Reinhart Partners LLC. Cuts Position in Air Lease Corporation $AL

Reinhart Partners LLC. lessened its position in Air Lease Corporation (NYSE:AL) by 39.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,082,860 shares of the transportation company’s stock after selling 690,970 shares during the period. Air Lease comprises about 2.2% of Reinhart Partners LLC.’s investment portfolio, making the stock its 22nd biggest holding. Reinhart Partners LLC.’s holdings in Air Lease were worth $63,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease in the first quarter worth approximately $25,000. Brooklyn Investment Group grew its position in Air Lease by 152.4% in the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after purchasing an additional 355 shares during the period. Versant Capital Management Inc raised its stake in Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock valued at $36,000 after buying an additional 348 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Air Lease by 264.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock valued at $43,000 after buying an additional 647 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Air Lease during the 1st quarter valued at $52,000. Institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Barclays reissued an “overweight” rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Citigroup raised shares of Air Lease from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.29.

Insider Buying and Selling

In other news, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the transaction, the executive vice president owned 13,970 shares of the company’s stock, valued at $887,514.10. The trade was a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock worth $746,380. Insiders own 6.80% of the company’s stock.

Air Lease Trading Down 0.0%

NYSE:AL opened at $63.55 on Wednesday. The firm has a 50-day simple moving average of $59.06 and a 200-day simple moving average of $53.85. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30. The firm has a market cap of $7.10 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the previous year, the firm earned $1.23 EPS. The company’s quarterly revenue was up 9.7% 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 Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s payout ratio is presently 10.68%.

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.