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 decreased its stake in Air Lease Corporation (NYSE:AL - Free Report) by 65.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,206 shares of the transportation company's stock after selling 67,370 shares during the quarter. Air Lease accounts for about 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.

A number of other hedge funds and other institutional investors have also modified their holdings of AL. Allspring Global Investments Holdings LLC boosted its position in shares of Air Lease by 19.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock valued at $162,492,000 after purchasing an additional 553,080 shares during the period. M3F Inc. acquired a new stake in Air Lease during the 1st quarter worth about $19,776,000. Waverton Investment Management Ltd acquired a new stake in Air Lease during the 1st quarter worth about $18,312,000. American Century Companies Inc. boosted its position in Air Lease by 10.4% during the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock worth $172,143,000 after acquiring an additional 336,376 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Air Lease by 18,200.7% during the 1st quarter. MetLife Investment Management LLC now owns 335,268 shares of the transportation company's stock worth $16,197,000 after acquiring an additional 333,436 shares during the period. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Stock Performance

Shares of AL stock traded down $0.04 during trading on Tuesday, reaching $63.53. The company had a trading volume of 3,009,640 shares, compared to its average volume of 1,062,554. The firm's 50 day simple moving average is $58.96 and its two-hundred day simple moving average is $53.79. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30. The company has a market capitalization of $7.10 billion, a PE ratio of 7.71, a PEG ratio of 0.65 and a beta of 1.37.

Air Lease (NYSE:AL - Get Free Report) last issued its quarterly earnings data 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. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. During the same period last year, the business earned $1.23 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Air Lease 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 value of $110,880.00. Following the transaction, the executive vice president directly owned 19,770 shares of the company's stock, valued at $1,096,048.80. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is currently owned by corporate insiders.

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.