Air Lease Corporation $AL Shares Purchased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Air Lease Corporation by 7.5%, owning 138,567 shares valued at approximately $6.5 million by the end of the latest quarter.
• Air Lease Corporation reported $1.40 EPS for the quarter, exceeding analysts' expectations of $1.33, while also achieving a revenue of $731.70 million, up 9.7% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 1.4%, with the payout ratio currently at 10.68%.

AQR Capital Management LLC increased its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,567 shares of the transportation company's stock after acquiring an additional 9,724 shares during the period. AQR Capital Management LLC owned about 0.12% of Air Lease worth $6,499,000 at the end of the most recent quarter.

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

Insider Activity

In related news, EVP David Beker sold 2,000 shares of the company's 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 owned 19,770 shares in the company, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.64% of the stock is owned by corporate insiders.

Air Lease Price Performance

Shares of AL stock traded up $0.04 during mid-day trading on Monday, reaching $63.56. The stock had a trading volume of 3,438,905 shares, compared to its average volume of 1,051,646. The business has a 50-day simple moving average of $58.87 and a 200 day simple moving average of $53.68. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30. The company has a market cap of $7.10 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47.

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

Air Lease Announces Dividend

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 given a $0.22 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease's payout ratio is presently 10.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AL shares. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price for the company. in a report on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Barclays reaffirmed an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Four research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $60.29.

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.