Air Lease Co. (NYSE:AL) Shares Bought by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp grew its holdings in Air Lease Co. (NYSE:AL) by 2.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,275 shares of the transportation company’s stock after buying an additional 1,175 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Air Lease were worth $2,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AL. Invesco Ltd. grew its holdings in shares of Air Lease by 0.5% in the third quarter. Invesco Ltd. now owns 2,720,757 shares of the transportation company’s stock valued at $107,225,000 after purchasing an additional 14,549 shares during the period. Earnest Partners LLC boosted its stake in Air Lease by 13.5% during the third quarter. Earnest Partners LLC now owns 1,825,501 shares of the transportation company’s stock worth $71,943,000 after buying an additional 217,170 shares during the period. Copeland Capital Management LLC boosted its stake in Air Lease by 0.3% during the third quarter. Copeland Capital Management LLC now owns 1,706,579 shares of the transportation company’s stock worth $67,256,000 after buying an additional 4,715 shares during the period. American Century Companies Inc. boosted its stake in Air Lease by 15.7% during the third quarter. American Century Companies Inc. now owns 1,669,291 shares of the transportation company’s stock worth $65,787,000 after buying an additional 226,908 shares during the period. Finally, Cooke & Bieler LP boosted its stake in Air Lease by 10.4% during the fourth quarter. Cooke & Bieler LP now owns 1,420,054 shares of the transportation company’s stock worth $59,557,000 after buying an additional 133,195 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the transaction, the executive vice president now owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO John L. Plueger sold 19,095 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total value of $768,955.65. Following the completion of the transaction, the chief executive officer now owns 859,153 shares of the company’s stock, valued at approximately $34,598,091.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,646 shares of company stock worth $3,705,152. Corporate insiders own 6.64% of the company’s stock.

Air Lease Stock Performance

NYSE:AL traded down $0.53 during midday trading on Thursday, reaching $50.87. The stock had a trading volume of 43,541 shares, compared to its average volume of 1,328,085. The firm has a fifty day simple moving average of $46.07 and a two-hundred day simple moving average of $41.56. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $51.77. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68. The stock has a market cap of $5.67 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.70 and a beta of 1.65.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The firm had revenue of $716.57 million for the quarter, compared to analyst estimates of $672.95 million. During the same period last year, the firm posted $1.21 EPS. Air Lease’s quarterly revenue was up 19.1% on a year-over-year basis. On average, equities analysts expect that Air Lease Co. will post 5.64 EPS for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.65%. Air Lease’s payout ratio is currently 16.31%.

Analyst Ratings Changes

Several brokerages have weighed in on AL. StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Barclays raised their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets raised their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

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.