Teacher Retirement System of Texas Takes Position in Air Lease Corporation (NYSE:AL)

Teacher Retirement System of Texas purchased a new position in shares of Air Lease Corporation (NYSE:AL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,468 shares of the transportation company's stock, valued at approximately $747,000.

A number of other large investors also recently made changes to their positions in AL. Wellington Management Group LLP increased its holdings in Air Lease by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock valued at $259,574,000 after purchasing an additional 362,585 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position 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 valued at $162,492,000 after acquiring an additional 553,080 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock worth $155,570,000 after buying an additional 389,070 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Air Lease by 0.4% during the fourth quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock valued at $124,282,000 after purchasing an additional 9,809 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Air Lease by 50.7% in the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after acquiring an additional 690,000 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.

Analyst Upgrades and Downgrades

AL has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Barclays restated an "overweight" rating and issued a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.29.

Air Lease Stock Performance

Shares of Air Lease stock traded down $0.77 on Friday, hitting $57.54. The stock had a trading volume of 588,989 shares, compared to its average volume of 781,310. The business's 50 day moving average is $57.63 and its two-hundred day moving average is $50.31. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.35. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $60.41. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.24 by $0.27. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The company's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. Analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.53%. Air Lease's dividend payout ratio is currently 15.38%.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the transaction, the executive vice president directly owned 146,316 shares of the company's stock, valued at $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.64% of the company's stock.

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.