Air Lease Co. (NYSE:AL) Shares Bought by Reinhart Partners LLC.

Reinhart Partners LLC. grew its stake in Air Lease Co. (NYSE:AL) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,773,830 shares of the transportation company’s stock after buying an additional 188,040 shares during the period. Air Lease accounts for about 3.1% of Reinhart Partners LLC.’s holdings, making the stock its 7th biggest holding. Reinhart Partners LLC.’s holdings in Air Lease were worth $85,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AL. Aster Capital Management DIFC Ltd acquired a new stake in shares of Air Lease in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Air Lease in the fourth quarter valued at about $31,000. Engine Capital Management LP acquired a new stake in Air Lease during the fourth quarter worth approximately $36,000. Versant Capital Management Inc grew its stake in Air Lease by 88.1% during the first 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. Finally, Brown Brothers Harriman & Co. grew its stake in Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock worth $52,000 after purchasing an additional 1,049 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 10,000 shares of the firm’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 value of $568,500.00. Following the transaction, the executive vice president now owns 146,316 shares in the company, valued at $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.64% of the company’s stock.

Air Lease Stock Up 1.0%

Shares of NYSE:AL opened at $57.65 on Friday. The business’s 50 day simple moving average is $50.07 and its two-hundred day simple moving average is $48.61. The firm has a market cap of $6.44 billion, a P/E ratio of 17.31, a PEG ratio of 1.33 and a beta of 1.36. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $59.27.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.27. The business had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, research analysts forecast that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.53%. Air Lease’s payout ratio is currently 15.38%.

Wall Street Analyst Weigh In

AL has been the subject of several recent analyst reports. Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. UBS Group set a $50.00 target price on Air Lease in a research note on Friday, March 7th. Citigroup raised Air Lease from a “neutral” rating to a “buy” rating and raised their target price for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Wall Street Zen raised Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Air Lease 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.