Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Aircastle Limited (NYSE:AYR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 14,830 shares of the transportation company’s stock, valued at approximately $256,000.
Several other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Aircastle by 96.3% in the fourth quarter. IFP Advisors Inc now owns 2,038 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Aircastle by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the transportation company’s stock valued at $79,000 after purchasing an additional 1,048 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Aircastle in the third quarter valued at approximately $203,000. Raymond James Trust N.A. acquired a new position in Aircastle in the third quarter valued at approximately $206,000. Finally, Frontier Investment Mgmt Co. boosted its holdings in Aircastle by 27.4% in the fourth quarter. Frontier Investment Mgmt Co. now owns 13,501 shares of the transportation company’s stock valued at $233,000 after purchasing an additional 2,900 shares in the last quarter. 57.42% of the stock is owned by institutional investors and hedge funds.
In other news, insider Michael Kriedberg sold 35,000 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $20.45, for a total value of $715,750.00. Following the completion of the sale, the insider now directly owns 180,968 shares of the company’s stock, valued at $3,700,795.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
Aircastle (NYSE:AYR) last posted its quarterly earnings data on Tuesday, February 12th. The transportation company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.01. The business had revenue of $292.60 million during the quarter, compared to the consensus estimate of $282.86 million. Aircastle had a return on equity of 12.57% and a net margin of 27.77%. The company’s revenue was up 48.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. Sell-side analysts predict that Aircastle Limited will post 2.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Wednesday, February 27th. Aircastle’s payout ratio is currently 37.85%.
A number of brokerages recently issued reports on AYR. ValuEngine downgraded Aircastle from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research raised Aircastle from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Credit Suisse Group decreased their price objective on Aircastle from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, December 11th. TheStreet downgraded Aircastle from a “b-” rating to a “c+” rating in a report on Friday, December 28th. Finally, Bank of America downgraded Aircastle from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $23.00 to $20.00 in a report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $22.50.
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Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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