Advisors Asset Management Inc. cut its holdings in Aircastle Limited (NYSE:AYR) by 73.4% during the second quarter, HoldingsChannel reports. The firm owned 231,052 shares of the transportation company’s stock after selling 635,943 shares during the quarter. Advisors Asset Management Inc.’s holdings in Aircastle were worth $14,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AYR. SG Americas Securities LLC purchased a new stake in shares of Aircastle during the 1st quarter worth approximately $118,000. Violich Capital Management Inc. purchased a new stake in shares of Aircastle during the 2nd quarter worth approximately $200,000. Point72 Hong Kong Ltd purchased a new stake in shares of Aircastle during the 2nd quarter worth approximately $201,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Aircastle during the 2nd quarter worth approximately $205,000. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Aircastle during the 2nd quarter worth approximately $253,000. 57.86% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on AYR shares. Zacks Investment Research cut Aircastle from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. ValuEngine cut Aircastle from a “hold” rating to a “sell” rating in a report on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $24.43.

Shares of AYR opened at $20.71 on Tuesday. The company has a market cap of $1.58 billion, a PE ratio of 11.07, a PEG ratio of 0.90 and a beta of 1.80. Aircastle Limited has a 1 year low of $18.97 and a 1 year high of $25.30.

Aircastle (NYSE:AYR) last issued its quarterly earnings data on Tuesday, August 7th. The transportation company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.14. The business had revenue of $204.28 million for the quarter, compared to analysts’ expectations of $194.60 million. Aircastle had a return on equity of 11.70% and a net margin of 28.40%. equities research analysts predict that Aircastle Limited will post 2.25 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Thursday, August 30th. Aircastle’s dividend payout ratio is currently 59.89%.

In other news, Director Ronald Merriman sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $21.26, for a total transaction of $159,450.00. Following the transaction, the director now owns 21,024 shares of the company’s stock, valued at approximately $446,970.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Aircastle Company Profile

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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Institutional Ownership by Quarter for Aircastle (NYSE:AYR)

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