University of Texas Texas AM Investment Management Co. Decreases Stock Holdings in Air Lease Corporation (NYSE:AL)

University of Texas Texas AM Investment Management Co. decreased its position in Air Lease Corporation (NYSE:AL) by 55.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,069 shares of the transportation company’s stock after selling 80,028 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Air Lease were worth $3,047,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AL. Norges Bank bought a new stake in shares of Air Lease during the 4th quarter valued at about $49,415,000. Capital Research Global Investors boosted its stake in shares of Air Lease by 50.7% during the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company’s stock valued at $98,830,000 after purchasing an additional 690,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Air Lease during the 4th quarter valued at about $31,414,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Air Lease by 19.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company’s stock valued at $162,492,000 after purchasing an additional 553,080 shares in the last quarter. Finally, Waverton Investment Management Ltd bought a new stake in shares of Air Lease during the 1st quarter valued at about $18,312,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 0.8%

AL opened at $58.12 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53. The firm has a 50 day moving average price of $57.71 and a 200-day moving average price of $50.70. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $60.41. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.63 and a beta of 1.35.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share 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 firm had revenue of $738.28 million during the quarter, compared to analysts’ expectations of $709.70 million. During the same period in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Equities research analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. Air Lease’s dividend payout ratio is currently 15.38%.

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president directly owned 146,316 shares in the company, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AL shares. Citigroup raised shares of Air Lease from a “neutral” rating to a “buy” rating and lifted their target price for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Barclays reissued an “overweight” rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.29.

About Air Lease

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.