State of Wyoming Raises Holdings in Air Lease Corporation $AL

Key Points

• The State of Wyoming increased its stake in Air Lease Corporation by 167.1% in Q1, acquiring a total of 9,623 shares valued at $465,000.
• Air Lease recently announced a quarterly dividend of $0.22 per share, with an annualized dividend yield of 1.5%.
• Wall Street analysts have upgraded Air Lease's rating, with Barclays setting a new price target of $67.00 per share, citing strong performance and growth potential.

State of Wyoming boosted its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 167.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,623 shares of the transportation company's stock after purchasing an additional 6,020 shares during the quarter. State of Wyoming's holdings in Air Lease were worth $465,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. M3F Inc. purchased a new stake in Air Lease during the 1st quarter worth about $19,776,000. Keeley Teton Advisors LLC increased its holdings in shares of Air Lease by 12.5% in the 1st quarter. Keeley Teton Advisors LLC now owns 178,469 shares of the transportation company's stock valued at $8,622,000 after acquiring an additional 19,840 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Air Lease by 18,200.7% in the 1st quarter. MetLife Investment Management LLC now owns 335,268 shares of the transportation company's stock valued at $16,197,000 after acquiring an additional 333,436 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Air Lease in the 1st quarter valued at about $52,000. Finally, Valueworks LLC increased its holdings in shares of Air Lease by 1.0% in the 1st quarter. Valueworks LLC now owns 199,508 shares of the transportation company's stock valued at $9,638,000 after acquiring an additional 1,895 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Insider Activity

In related news, EVP David Beker sold 2,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the completion of the sale, the executive vice president directly owned 19,770 shares of the company's stock, valued at $1,096,048.80. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.64% of the stock is currently owned by company insiders.

Air Lease Stock Down 0.9%

Shares of NYSE AL opened at $60.13 on Friday. The stock has a market cap of $6.72 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $61.10. The business has a 50-day moving average price of $57.85 and a 200 day moving average price of $52.63.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 7.99% and a net margin of 34.04%.The business's revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Equities research analysts forecast 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. Investors of record on Wednesday, September 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.5%. Air Lease's dividend payout ratio is 10.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AL. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Barclays reiterated an "overweight" rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Air Lease 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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