PNC Financial Services Group Inc. Sells 2,968 Shares of AerCap Holdings (NYSE:AER)

PNC Financial Services Group Inc. decreased its position in AerCap Holdings (NYSE:AER - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 147,745 shares of the financial services provider's stock after selling 2,968 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of AerCap worth $14,139,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AER. B. Riley Wealth Advisors Inc. raised its stake in shares of AerCap by 59.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 17,875 shares of the financial services provider's stock worth $1,686,000 after buying an additional 6,654 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AerCap by 66.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,803 shares of the financial services provider's stock worth $26,503,000 after buying an additional 112,084 shares during the period. KBC Group NV raised its stake in shares of AerCap by 18.7% in the third quarter. KBC Group NV now owns 350,888 shares of the financial services provider's stock worth $33,236,000 after buying an additional 55,213 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AerCap by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,303 shares of the financial services provider's stock worth $42,711,000 after buying an additional 4,222 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of AerCap by 5.3% in the third quarter. Franklin Resources Inc. now owns 5,601,208 shares of the financial services provider's stock worth $545,726,000 after buying an additional 282,980 shares during the period. Institutional investors own 96.42% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research analysts have recently commented on AER shares. Barclays reaffirmed an "overweight" rating and issued a $115.00 price objective (up previously from $113.00) on shares of AerCap in a research note on Thursday, February 27th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $119.00 price objective on shares of AerCap in a research note on Thursday, November 21st. UBS Group cut AerCap to an "underperform" rating in a research report on Friday, March 7th. Bank of America increased their target price on AerCap from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Finally, Susquehanna increased their target price on AerCap from $108.00 to $120.00 and gave the stock a "positive" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.43.

AerCap Price Performance

NYSE AER traded up $2.30 during trading on Friday, hitting $101.37. 1,379,206 shares of the stock traded hands, compared to its average volume of 1,285,861. The company has a market capitalization of $18.93 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 2.22 and a beta of 1.83. The firm has a 50-day simple moving average of $97.99 and a 200-day simple moving average of $96.37. 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 Holdings has a 12-month low of $81.93 and a 12-month high of $107.36.

AerCap (NYSE:AER - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $3.31 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.75. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.97 billion. AerCap had a return on equity of 13.98% and a net margin of 32.38%. As a group, analysts predict that AerCap Holdings will post 11.29 EPS for the current year.

AerCap Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, March 12th. This is a boost from AerCap's previous quarterly dividend of $0.25. AerCap's dividend payout ratio (DPR) is currently 9.99%.

AerCap announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

AerCap Company 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.