Factorial Partners LLC Increases Holdings in Air Lease Corporation (NYSE:AL)

Key Points

• Factorial Partners LLC increased its holdings in Air Lease Corporation by 8.3%, owning 91,000 shares worth approximately $4.4 million, making it the firm's 12th largest investment.
• Air Lease reported earnings of $1.51 per share for the last quarter, exceeding analysts' expectations, with a revenue of $738.28 million, up 11.3% year-over-year.
• Analysts have revised their ratings on Air Lease, with Citigroup upgrading it from "neutral" to "buy" and raising the target price to $68.00, reflecting a positive outlook for the stock.

Factorial Partners LLC raised its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,000 shares of the transportation company's stock after purchasing an additional 7,000 shares during the period. Air Lease comprises approximately 2.7% of Factorial Partners LLC's holdings, making the stock its 12th largest holding. Factorial Partners LLC owned about 0.08% of Air Lease worth $4,396,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in Air Lease during the 1st quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in Air Lease during the fourth quarter valued at about $28,000. Engine Capital Management LP purchased a new stake in shares of Air Lease during the fourth quarter valued at $36,000. Versant Capital Management Inc grew its stake in Air Lease by 88.1% during the 1st 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 in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Air Lease during the 4th quarter valued at about $52,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Trading Up 0.5%

Shares of NYSE AL traded up $0.25 during midday trading on Friday, hitting $55.52. The stock had a trading volume of 539,787 shares, compared to its average volume of 815,603. The company's 50-day simple moving average is $57.33 and its 200 day simple moving average is $51.28. The firm has a market cap of $6.20 billion, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 0.60 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 $60.41. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.39.

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

Air Lease Dividend Announcement

The company also recently declared 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, September 3rd. Air Lease's dividend payout ratio is presently 10.68%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays restated an "overweight" rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Insiders Place Their Bets

In other news, EVP David Beker sold 2,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total transaction of $110,880.00. Following the completion of the transaction, the executive vice president directly owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the transaction, the executive vice president directly owned 146,316 shares of the company's stock, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.64% of the stock is currently owned by corporate insiders.

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.