Reinhart Partners LLC. Trims Stock Holdings in Air Lease Corporation $AL

Reinhart Partners LLC. lowered its stake in shares of Air Lease Corporation (NYSE:AL) by 37.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 679,191 shares of the transportation company’s stock after selling 403,669 shares during the period. Reinhart Partners LLC. owned 0.61% of Air Lease worth $43,231,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Air Lease by 21.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock worth $2,443,000 after purchasing an additional 9,056 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock worth $9,855,000 after buying an additional 192,508 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Air Lease by 493.5% in the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock worth $429,000 after buying an additional 7,387 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Air Lease by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock valued at $15,784,000 after acquiring an additional 15,629 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Air Lease by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock valued at $14,410,000 after acquiring an additional 41,912 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AL has been the subject of several analyst reports. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.17.

Air Lease Stock Performance

NYSE:AL opened at $64.32 on Friday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a 50-day simple moving average of $64.06 and a two-hundred day simple moving average of $62.00. The firm has a market capitalization of $7.19 billion, a PE ratio of 7.45, a P/E/G ratio of 0.56 and a beta of 1.15. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.40.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. The firm had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. Analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, December 4th. Air Lease’s dividend payout ratio is presently 10.20%.

Insider Buying and Selling at Air Lease

In other news, EVP Grant A. Levy sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the completion of the transaction, the executive vice president owned 137,206 shares in the company, valued at $8,822,345.80. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the sale, the executive vice president directly owned 50,091 shares in the company, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 760,593 shares of company stock valued at $48,668,588 over the last ninety days. 6.64% of the stock is currently owned by company insiders.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.