Northern Trust Corp cut its holdings in shares of Aircastle Limited (NYSE:AYR) by 38.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 639,518 shares of the transportation company’s stock after selling 407,765 shares during the quarter. Northern Trust Corp owned 0.82% of Aircastle worth $13,109,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of AYR. Rothschild Asset Management Inc. raised its stake in shares of Aircastle by 2,004.0% during the second quarter. Rothschild Asset Management Inc. now owns 1,829,292 shares of the transportation company’s stock worth $37,500,000 after acquiring an additional 1,742,350 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Aircastle by 409.0% during the second quarter. Wells Fargo & Company MN now owns 582,593 shares of the transportation company’s stock worth $11,943,000 after acquiring an additional 468,139 shares in the last quarter. Sei Investments Co. raised its stake in shares of Aircastle by 31,754.2% during the second quarter. Sei Investments Co. now owns 322,365 shares of the transportation company’s stock worth $6,608,000 after acquiring an additional 321,353 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Aircastle by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 6,310,049 shares of the transportation company’s stock worth $129,356,000 after acquiring an additional 318,259 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Aircastle by 9.5% during the second quarter. BlackRock Inc. now owns 3,481,457 shares of the transportation company’s stock worth $71,372,000 after acquiring an additional 301,727 shares in the last quarter. 57.75% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on AYR. Zacks Investment Research raised shares of Aircastle from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Friday, November 2nd. ValuEngine raised shares of Aircastle from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Cowen raised shares of Aircastle from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $24.00 to $26.00 in a research note on Thursday, September 27th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.33.
In other news, Director Ronald Merriman sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $21.26, for a total value of $159,450.00. Following the transaction, the director now owns 21,024 shares in the company, valued at $446,970.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.
Shares of Aircastle stock opened at $19.95 on Wednesday. Aircastle Limited has a 52-week low of $17.86 and a 52-week high of $25.30. The company has a market capitalization of $1.55 billion, a PE ratio of 10.67, a PEG ratio of 0.85 and a beta of 1.75.
Aircastle (NYSE:AYR) last issued its earnings results on Thursday, November 1st. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. Aircastle had a net margin of 25.70% and a return on equity of 10.26%. The firm had revenue of $190.80 million for the quarter, compared to analysts’ expectations of $192.78 million. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that Aircastle Limited will post 2.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.30 dividend. This is a boost from Aircastle’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 6.02%. Aircastle’s dividend payout ratio (DPR) is currently 59.89%.
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Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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