Summit Global Investments Makes New Investment in AerCap Holdings (NYSE:AER)

Summit Global Investments purchased a new stake in AerCap Holdings (NYSE:AER) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,047 shares of the financial services provider’s stock, valued at approximately $667,000.

Several other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in AerCap by 89.9% in the 2nd quarter. Blue Trust Inc. now owns 283 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 134 shares during the period. Mather Group LLC. boosted its position in shares of AerCap by 230.1% in the second quarter. Mather Group LLC. now owns 307 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 214 shares during the period. UMB Bank n.a. grew its stake in AerCap by 35.5% during the third quarter. UMB Bank n.a. now owns 664 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 174 shares in the last quarter. Federated Hermes Inc. increased its holdings in AerCap by 209.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,567 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 1,060 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in AerCap in the 1st quarter worth approximately $185,000. 96.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AER. Susquehanna boosted their price target on shares of AerCap from $100.00 to $108.00 and gave the company a “positive” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their target price on AerCap from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays lifted their price target on AerCap from $111.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen reiterated a “buy” rating and issued a $125.00 target price on shares of AerCap in a research report on Monday, July 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

AerCap Stock Performance

NYSE AER opened at $97.52 on Friday. The company has a 50-day simple moving average of $94.94 and a two-hundred day simple moving average of $93.09. AerCap Holdings has a 12-month low of $65.34 and a 12-month high of $99.68. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 2.23 and a beta of 1.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.89.

AerCap (NYSE:AER) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $2.41 earnings per share for the quarter, meeting the consensus estimate of $2.41. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.92 billion. AerCap had a return on equity of 13.98% and a net margin of 32.38%. AerCap’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.81 EPS. On average, equities analysts forecast that AerCap Holdings will post 11.26 EPS for the current year.

AerCap Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.03%. AerCap’s payout ratio is currently 7.92%.

AerCap Profile

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.