Mutual of America Capital Management LLC Has $729,000 Position in Air Lease Corporation (NYSE:AL)

Mutual of America Capital Management LLC trimmed its holdings in shares of Air Lease Corporation (NYSE:AL) by 3.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 15,084 shares of the transportation company’s stock after selling 607 shares during the period. Mutual of America Capital Management LLC’s holdings in Air Lease were worth $729,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in Air Lease by 19.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company’s stock worth $162,492,000 after acquiring an additional 553,080 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Air Lease by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company’s stock worth $124,282,000 after purchasing an additional 9,809 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Air Lease by 50.7% in 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 during the period. Reinhart Partners LLC. lifted its stake in Air Lease by 11.9% in the 1st quarter. Reinhart Partners LLC. now owns 1,773,830 shares of the transportation company’s stock valued at $85,694,000 after purchasing an additional 188,040 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Air Lease by 6.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,456,910 shares of the transportation company’s stock valued at $70,238,000 after purchasing an additional 90,120 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Down 0.7%

Shares of AL stock opened at $55.16 on Tuesday. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $60.41. The company has a market capitalization of $6.16 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 0.60 and a beta of 1.41. The firm has a 50 day moving average price of $57.30 and a two-hundred day moving average price of $51.39. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analysts’ expectations of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. As a group, analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease’s payout ratio is presently 10.68%.

Analysts Set New Price Targets

Several analysts have issued reports on AL shares. Wall Street Zen upgraded Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Barclays restated an “overweight” rating and issued a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Citigroup raised Air Lease from a “neutral” rating to a “buy” rating and raised their price target for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Insider Activity

In related news, EVP David Beker sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total value of $110,880.00. Following the transaction, the executive vice president directly owned 19,770 shares in the company, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.80% of the company’s stock.

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.