Reinhart Partners LLC. Purchases 188,040 Shares of Air Lease Co. (NYSE:AL)

Reinhart Partners LLC. grew its holdings in Air Lease Co. (NYSE:AL - Free Report) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,773,830 shares of the transportation company's stock after acquiring an additional 188,040 shares during the quarter. Air Lease accounts for approximately 3.1% of Reinhart Partners LLC.'s investment portfolio, making the stock its 7th biggest position. Reinhart Partners LLC. owned about 1.59% of Air Lease worth $85,694,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AL. Barclays PLC boosted its position in shares of Air Lease by 104.6% in the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock valued at $3,897,000 after acquiring an additional 43,981 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Air Lease by 1,980.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,292 shares of the transportation company's stock valued at $689,000 after acquiring an additional 13,605 shares during the period. Burns Matteson Capital Management LLC bought a new stake in shares of Air Lease during the 4th quarter valued at $405,000. Allspring Global Investments Holdings LLC lifted its position in shares of Air Lease by 43.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock valued at $134,332,000 after acquiring an additional 842,780 shares during the period. Finally, Stanley Laman Group Ltd. lifted its position in shares of Air Lease by 1.8% during the 4th quarter. Stanley Laman Group Ltd. now owns 91,754 shares of the transportation company's stock valued at $4,423,000 after acquiring an additional 1,645 shares during the period. Institutional investors own 94.59% of the company's stock.

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the company's 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 transaction, the executive vice president now owns 146,316 shares of the company's stock, valued at $8,318,064.60. This represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.64% of the company's stock.

Air Lease Price Performance

Shares of AL stock opened at $57.65 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a twelve month low of $38.25 and a twelve month high of $59.27. The company has a market cap of $6.44 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.33 and a beta of 1.36. The business has a fifty day simple moving average of $50.07 and a 200 day simple moving average of $48.61.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same period in the prior year, the company earned $0.87 EPS. Air Lease's revenue for the quarter was up 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Air Lease Co. 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, July 9th. Shareholders of record on Wednesday, June 4th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. Air Lease's payout ratio is presently 15.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AL. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and cut their target price for the company from $72.00 to $50.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and upped their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. UBS Group set a $50.00 target price on Air Lease in a research report on Friday, March 7th. Finally, Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

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.

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