Reinhart Partners LLC. Buys 98,755 Shares of Air Lease Co. (NYSE:AL)

Reinhart Partners LLC. increased its stake in Air Lease Co. (NYSE:AL) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,543,756 shares of the transportation company’s stock after purchasing an additional 98,755 shares during the quarter. Air Lease makes up approximately 2.7% of Reinhart Partners LLC.’s investment portfolio, making the stock its 12th biggest position. Reinhart Partners LLC.’s holdings in Air Lease were worth $69,917,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. GSA Capital Partners LLP raised its holdings in Air Lease by 1.2% in the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock worth $966,000 after purchasing an additional 217 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Air Lease by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after purchasing an additional 291 shares during the period. Neo Ivy Capital Management raised its holdings in Air Lease by 32.4% during the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 330 shares during the period. CWM LLC raised its holdings in Air Lease by 16.5% during the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after acquiring an additional 440 shares during the period. Finally, Hilltop National Bank raised its holdings in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after acquiring an additional 448 shares during the period. 94.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AL. TD Cowen began coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Barclays decreased their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.75.

Air Lease Trading Up 1.5 %

Shares of AL stock opened at $43.44 on Friday. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The stock’s 50-day moving average price is $44.12 and its 200-day moving average price is $46.96. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.29 and a beta of 1.59.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The firm had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. Equities research analysts predict that Air Lease Co. will post 4.83 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.84 annualized dividend and a yield of 1.93%. Air Lease’s dividend payout ratio is currently 16.94%.

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.