Keeley Teton Advisors LLC Buys 19,840 Shares of Air Lease Corporation $AL

Key Points

• Keeley Teton Advisors LLC has increased its stake in Air Lease Corporation by 12.5%, now holding approximately 178,469 shares, making it the firm's 10th largest investment.
• MetLife Investment Management LLC has made a substantial move, boosting its position in Air Lease by over 18,200% during the first quarter, now owning 335,268 shares valued at $16.2 million.
• Air Lease recently reported $1.40 earnings per share for the last quarter, exceeding analysts' expectations, alongside announcing a quarterly dividend of $0.22 per share.

Keeley Teton Advisors LLC increased its position in Air Lease Corporation (NYSE:AL - Free Report) by 12.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,469 shares of the transportation company's stock after purchasing an additional 19,840 shares during the period. Air Lease accounts for about 1.0% of Keeley Teton Advisors LLC's investment portfolio, making the stock its 10th biggest holding. Keeley Teton Advisors LLC owned about 0.16% of Air Lease worth $8,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AL. Mariner LLC grew its stake in Air Lease by 15.4% in the fourth quarter. Mariner LLC now owns 20,085 shares of the transportation company's stock worth $968,000 after purchasing an additional 2,686 shares in the last quarter. Stifel Financial Corp grew its stake in Air Lease by 0.6% in the fourth quarter. Stifel Financial Corp now owns 84,707 shares of the transportation company's stock worth $4,084,000 after purchasing an additional 519 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Air Lease in the fourth quarter worth about $5,134,000. Tudor Investment Corp ET AL acquired a new position in Air Lease in the fourth quarter worth about $1,909,000. Finally, Northern Trust Corp grew its stake in Air Lease by 8.9% in the fourth quarter. Northern Trust Corp now owns 1,358,362 shares of the transportation company's stock worth $65,487,000 after purchasing an additional 110,877 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AL. Barclays reiterated an "overweight" rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup raised shares of 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 report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Air Lease currently has an average rating of "Moderate Buy" and a consensus target price of $59.50.

Air Lease Stock Performance

Shares of AL traded down $0.53 during mid-day trading on Friday, reaching $60.13. 560,927 shares of the company's stock traded hands, compared to its average volume of 837,519. The business's 50-day moving average price is $57.78 and its 200-day moving average price is $52.48. The stock has a market capitalization of $6.72 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. 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 12 month low of $38.25 and a 12 month high of $61.10.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. The company had revenue of $731.70 million for 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 business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. Equities analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease's payout ratio is 10.68%.

Insider Buying and Selling at Air Lease

In other news, EVP David Beker sold 2,000 shares of Air Lease stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total transaction of $110,880.00. Following the sale, the executive vice president owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.64% 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.