Xponance Inc. Raises Stock Position in Air Lease Corporation (NYSE:AL)

Xponance Inc. grew its holdings in Air Lease Corporation (NYSE:AL) by 4.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,643 shares of the transportation company’s stock after acquiring an additional 365 shares during the period. Xponance Inc.’s holdings in Air Lease were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AL. Illinois Municipal Retirement Fund boosted its stake in shares of Air Lease by 0.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company’s stock worth $2,720,000 after purchasing an additional 272 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Air Lease by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company’s stock worth $2,210,000 after purchasing an additional 280 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Air Lease by 3.0% during the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company’s stock worth $461,000 after purchasing an additional 281 shares during the period. MBM Wealth Consultants LLC boosted its stake in shares of Air Lease by 2.1% during the 1st quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company’s stock worth $686,000 after purchasing an additional 284 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after purchasing an additional 348 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Trading Down 1.3%

NYSE:AL opened at $57.54 on Friday. Air Lease Corporation has a one year low of $38.25 and a one year high of $60.41. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $6.43 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.63 and a beta of 1.35. The firm has a 50-day simple moving average of $57.63 and a 200-day simple moving average of $50.31.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The business had revenue of $738.28 million during the quarter, compared to analyst estimates of $709.70 million. During the same quarter in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. Air Lease’s dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AL shares. Wall Street Zen raised shares of Air Lease from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Barclays reissued an “overweight” rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Citigroup raised shares of Air Lease from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.29.

Insider Activity at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the transaction, the executive vice president owned 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.64% of the stock is currently owned by company insiders.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.