Gotham Asset Management LLC Grows Stock Holdings in Air Lease Co. (NYSE:AL)

Gotham Asset Management LLC increased its position in Air Lease Co. (NYSE:AL - Free Report) by 47.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,645 shares of the transportation company's stock after buying an additional 60,577 shares during the period. Gotham Asset Management LLC owned 0.17% of Air Lease worth $9,095,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AL. Arizona State Retirement System lifted its position in Air Lease by 0.8% in the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company's stock valued at $1,480,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. lifted its position in Air Lease by 11.6% in the 4th quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company's stock valued at $128,000 after acquiring an additional 276 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Air Lease by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company's stock valued at $2,210,000 after acquiring an additional 280 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Air Lease by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company's stock valued at $2,098,000 after acquiring an additional 318 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Air Lease by 0.6% in the 4th quarter. Stifel Financial Corp now owns 84,707 shares of the transportation company's stock valued at $4,084,000 after acquiring an additional 519 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 directly owns 146,316 shares in the company, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AL. StockNews.com raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. One equities 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.com, Air Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.

Air Lease Stock Performance

Shares of AL stock traded up $0.08 during trading hours on Friday, hitting $57.48. 661,843 shares of the company were exchanged, compared to its average volume of 773,838. The firm has a fifty day simple moving average of $47.10 and a 200 day simple moving average of $47.58. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $57.80. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.27. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The company had revenue of $738.28 million during the quarter, compared to analyst estimates of $709.70 million. During the same quarter last year, the business posted $0.87 EPS. Air Lease's quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts predict that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

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

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.