Reinhart Partners LLC. Purchases 144,042 Shares of Air Lease Co. (NYSE:AL)

Reinhart Partners LLC. grew its stake in Air Lease Co. (NYSE:AL) by 11.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,402,282 shares of the transportation company’s stock after purchasing an additional 144,042 shares during the quarter. Air Lease makes up 2.6% of Reinhart Partners LLC.’s holdings, making the stock its 11th largest holding. Reinhart Partners LLC.’s holdings in Air Lease were worth $58,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Air Lease by 13.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,289 shares of the transportation company’s stock valued at $1,061,000 after acquiring an additional 2,930 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Air Lease by 16.1% in the 4th quarter. Raymond James & Associates now owns 421,336 shares of the transportation company’s stock valued at $17,671,000 after acquiring an additional 58,393 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of Air Lease in the 4th quarter valued at about $319,000. Richard P Slaughter Associates Inc grew its holdings in shares of Air Lease by 4.7% in the 4th quarter. Richard P Slaughter Associates Inc now owns 56,982 shares of the transportation company’s stock valued at $2,390,000 after acquiring an additional 2,539 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Air Lease in the 3rd quarter valued at about $2,366,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 0.9 %

NYSE AL opened at $49.55 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $49.66. The company has a 50 day moving average of $42.69 and a 200-day moving average of $39.99. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.73 and a beta of 1.62.

Air Lease (NYSE:AL) last released its quarterly earnings results 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 company had revenue of $716.57 million during the quarter, compared to the consensus estimate of $672.95 million. During the same period in the previous year, the business earned $1.21 earnings per share. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. On average, equities research analysts expect that Air Lease Co. will post 5.64 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.70%. Air Lease’s dividend payout ratio (DPR) is 16.31%.

Insider Activity at Air Lease

In related news, CEO John L. Plueger sold 19,095 shares of Air Lease stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total value of $768,955.65. Following the transaction, the chief executive officer now directly owns 859,153 shares of the company’s stock, valued at $34,598,091.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Air Lease news, EVP Alex A. Khatibi sold 11,199 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $47.37, for a total transaction of $530,496.63. Following the sale, the executive vice president now owns 76,300 shares of the company’s stock, valued at $3,614,331. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John L. Plueger sold 19,095 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.27, for a total transaction of $768,955.65. Following the sale, the chief executive officer now directly owns 859,153 shares in the company, valued at approximately $34,598,091.31. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock valued at $3,705,152 over the last three months. 6.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AL. BMO Capital Markets raised their price objective on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays lifted their price target on Air Lease from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, StockNews.com upgraded Air Lease from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.50.

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.