Villanova Investment Management Co LLC Reduces Stake in Air Lease Corporation $AL

Key Points

• Villanova Investment Management Co LLC reduced its holdings in Air Lease Corporation by 65%, owning 36,206 shares worth approximately $1.75 million after selling 67,370 shares in the first quarter.
• Air Lease's recent quarterly earnings report revealed an EPS of $1.40, exceeding analysts' expectations of $1.33, with a year-over-year revenue increase of 9.7%.
• The company announced a quarterly dividend of $0.22 per share, contributing to an annualized yield of 1.4%, and the ex-dividend date is set for September 3rd.

Villanova Investment Management Co LLC trimmed its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 65.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,206 shares of the transportation company's stock after selling 67,370 shares during the period. Air Lease makes up 4.9% of Villanova Investment Management Co LLC's investment portfolio, making the stock its 2nd largest holding. Villanova Investment Management Co LLC's holdings in Air Lease were worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AL. Illinois Municipal Retirement Fund boosted its position in shares of Air Lease by 0.5% in the first quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company's stock worth $2,720,000 after purchasing an additional 272 shares during the period. Squarepoint Ops LLC boosted its position in shares of Air Lease by 3.0% in the fourth quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company's stock worth $461,000 after purchasing an additional 281 shares during the period. MBM Wealth Consultants LLC boosted its position in shares of Air Lease by 2.1% in the first quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company's stock worth $686,000 after purchasing an additional 284 shares during the period. Versant Capital Management Inc boosted its position in shares of Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after purchasing an additional 348 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Air Lease by 152.4% in the first 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. 94.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AL. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and upped their target price for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price for the company. in a research report on Wednesday, September 3rd. Cowen lowered shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. TD Cowen downgraded shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Barclays reaffirmed an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Air Lease presently has an average rating of "Hold" and an average target price of $60.29.

Insider Buying and Selling at Air Lease

In related news, EVP David Beker sold 2,000 shares of the firm'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 owned 19,770 shares of the company's stock, valued at $1,096,048.80. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.64% of the company's stock.

Air Lease Trading Down 0.1%

Shares of AL traded down $0.05 during midday trading on Friday, hitting $63.53. The stock had a trading volume of 2,525,679 shares, compared to its average volume of 2,334,465. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The firm has a market cap of $7.10 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The stock's 50 day moving average is $58.87 and its 200 day moving average is $53.64.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease's dividend payout ratio is currently 10.68%.

Air Lease 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.