Factorial Partners LLC Acquires 7,000 Shares of 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 grew its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,000 shares of the transportation company's stock after acquiring an additional 7,000 shares during the quarter. Air Lease accounts for 2.7% of Factorial Partners LLC's holdings, making the stock its 12th biggest position. Factorial Partners LLC owned approximately 0.08% of Air Lease worth $4,396,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AL. Illinois Municipal Retirement Fund increased its holdings in shares of Air Lease by 0.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company's stock worth $2,720,000 after acquiring an additional 272 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Air Lease by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company's stock worth $2,210,000 after acquiring an additional 280 shares during the period. Squarepoint Ops LLC grew 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 valued at $461,000 after purchasing an additional 281 shares during the last quarter. MBM Wealth Consultants LLC increased its stake in shares of Air Lease by 2.1% during 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. Finally, Versant Capital Management Inc increased its stake in shares of Air Lease by 88.1% during 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. Institutional investors and hedge funds own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

AL has been the topic of a number of research reports. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and upped their price target for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Finally, Barclays reiterated an "overweight" rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.50.

Insiders Place Their Bets

In other news, 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 value of $568,500.00. Following the completion of the sale, the executive vice president owned 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.64% of the stock is owned by insiders.

Air Lease Price Performance

Air Lease stock traded up $0.25 during midday trading on Friday, reaching $55.52. The company's stock had a trading volume of 539,787 shares, compared to its average volume of 854,472. The company has a current ratio of 0.42, a quick ratio of 0.39 and a debt-to-equity ratio of 2.47. The stock has a market cap of $6.21 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41. The business has a 50-day moving average price of $57.38 and a 200-day moving average price of $51.22.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. On average, sell-side analysts predict that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease's payout ratio is presently 10.68%.

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.