American International Group Inc. purchased a new position in shares of Aircastle Limited (NYSE:AYR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,058 shares of the transportation company’s stock, valued at approximately $750,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of AYR. State Street Corp grew its holdings in shares of Aircastle by 6.7% during the second quarter. State Street Corp now owns 1,152,919 shares of the transportation company’s stock worth $25,075,000 after buying an additional 72,112 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Aircastle by 5.1% during the third quarter. First Trust Advisors LP now owns 125,874 shares of the transportation company’s stock worth $2,806,000 after buying an additional 6,113 shares in the last quarter. Comerica Bank purchased a new stake in shares of Aircastle during the third quarter worth about $1,308,000. SG Americas Securities LLC grew its holdings in shares of Aircastle by 98.5% during the third quarter. SG Americas Securities LLC now owns 11,026 shares of the transportation company’s stock worth $246,000 after buying an additional 5,471 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Aircastle during the third quarter worth about $423,000. Institutional investors and hedge funds own 61.55% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Macquarie assumed coverage on shares of Aircastle in a research report on Tuesday, March 13th. They issued an “outperform” rating on the stock. They noted that the move was a valuation call. Stephens raised shares of Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 target price on the stock in a research report on Wednesday, February 14th. They noted that the move was a valuation call. Cowen reissued a “market perform” rating and issued a $24.00 target price (down from $26.00) on shares of Aircastle in a research report on Tuesday, February 13th. Royal Bank of Canada reissued a “hold” rating on shares of Aircastle in a research report on Wednesday, February 14th. Finally, Zacks Investment Research cut shares of Aircastle from a “hold” rating to a “strong sell” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $24.60.
AYR stock traded down $0.19 during midday trading on Monday, reaching $19.67. 502,864 shares of the company’s stock traded hands, compared to its average volume of 370,161. The stock has a market cap of $1,562.52, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.17 and a beta of 1.83. Aircastle Limited has a fifty-two week low of $18.97 and a fifty-two week high of $25.30.
Aircastle (NYSE:AYR) last announced its quarterly earnings results on Tuesday, February 13th. The transportation company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $177.40 million for the quarter, compared to analysts’ expectations of $184.09 million. Aircastle had a net margin of 18.56% and a return on equity of 8.41%. Aircastle’s revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. research analysts anticipate that Aircastle Limited will post 1.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 5.69%. Aircastle’s dividend payout ratio (DPR) is 59.89%.
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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