MetLife Investment Management LLC Has $16.20 Million Holdings in Air Lease Corporation $AL

Key Points

• MetLife Investment Management LLC significantly increased its stake in Air Lease Corporation by 18,200.7%, now owning 335,268 shares valued at approximately $16.2 million.
• Several other institutional investors have also made notable changes, with 94.59% of the company’s stock now held by institutional investors.
• Analysts are optimistic about Air Lease, with Barclays and Citigroup upgrading their ratings, and the company achieving a consensus target price of $59.50.

MetLife Investment Management LLC raised its stake in Air Lease Corporation (NYSE:AL - Free Report) by 18,200.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,268 shares of the transportation company's stock after purchasing an additional 333,436 shares during the quarter. MetLife Investment Management LLC owned approximately 0.30% of Air Lease worth $16,197,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Alpine Bank Wealth Management acquired a new stake in shares of Air Lease in the 1st quarter valued at approximately $25,000. Brooklyn Investment Group raised its position in Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after acquiring an additional 355 shares in the last quarter. Versant Capital Management Inc lifted its stake in Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after acquiring an additional 348 shares during the last quarter. Engine Capital Management LP acquired a new stake in Air Lease in the fourth quarter valued at $36,000. Finally, SVB Wealth LLC bought a new position in shares of Air Lease in the 1st quarter valued at about $52,000. Institutional investors own 94.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AL shares. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.50.

Air Lease Stock Performance

NYSE:AL traded up $0.11 during mid-day trading on Thursday, hitting $60.62. 611,437 shares of the stock were exchanged, compared to its average volume of 839,206. The firm's 50-day simple moving average is $57.69 and its 200 day simple moving average is $52.38. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $61.10. 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 (NYSE:AL - Get Free Report) last posted its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. The company had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The company's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. As a group, equities analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal 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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 3rd. Air Lease's payout ratio is presently 10.68%.

Insider Activity

In related news, EVP David Beker sold 2,000 shares of the 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 $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.64% of the company's stock.

Air Lease Company 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.