University of Texas Texas AM Investment Management Co. Buys 28,250 Shares of Air Lease Co. (NYSE:AL)

University of Texas Texas AM Investment Management Co. grew its stake in shares of Air Lease Co. (NYSE:AL) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 143,097 shares of the transportation company’s stock after buying an additional 28,250 shares during the quarter. Air Lease makes up 0.8% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 15th biggest holding. University of Texas Texas AM Investment Management Co. owned approximately 0.13% of Air Lease worth $6,899,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System increased its position in Air Lease by 0.8% in the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company’s stock valued at $1,480,000 after acquiring an additional 244 shares during the period. Principal Securities Inc. lifted its holdings in Air Lease by 11.6% during the 4th quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock worth $128,000 after buying an additional 276 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Air Lease by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company’s stock valued at $2,210,000 after buying an additional 280 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Air Lease by 3.0% in the fourth quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company’s stock valued at $461,000 after buying an additional 281 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Air Lease by 0.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company’s stock valued at $2,098,000 after buying an additional 318 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the sale, the executive vice president now owns 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Air Lease Price Performance

Air Lease stock opened at $57.09 on Friday. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.33 and a beta of 1.33. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $59.27. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The stock’s 50 day moving average price is $48.05 and its two-hundred day moving average price is $47.89.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.27. The company had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Air Lease’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. On average, equities analysts predict that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Air Lease’s dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group set a $50.00 price objective on Air Lease in a research note on Friday, March 7th. Bank of America lowered shares of Air Lease from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $72.00 to $50.00 in a report on Friday, March 7th. Wall Street Zen raised shares of Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Citigroup upgraded shares of Air Lease from a “neutral” rating to a “buy” rating and boosted their target price for the company from $45.00 to $68.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, Air Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

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.