Genesee Capital Advisors LLC Increases Holdings in Air Lease Co. (NYSE:AL)

Genesee Capital Advisors LLC grew its holdings in shares of Air Lease Co. (NYSE:AL) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,309 shares of the transportation company’s stock after buying an additional 1,172 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Air Lease were worth $810,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Air Lease by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,709,215 shares of the transportation company’s stock valued at $301,082,000 after purchasing an additional 194,211 shares during the last quarter. BlackRock Inc. grew its holdings in Air Lease by 1.6% during the 1st quarter. BlackRock Inc. now owns 5,763,177 shares of the transportation company’s stock valued at $257,324,000 after purchasing an additional 90,225 shares during the last quarter. Wellington Management Group LLP grew its stake in Air Lease by 36.7% in the 1st quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock worth $243,180,000 after acquiring an additional 1,460,769 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Air Lease by 3.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,542,411 shares of the transportation company’s stock worth $178,834,000 after acquiring an additional 151,988 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Air Lease by 141.3% in the 1st quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock worth $165,846,000 after acquiring an additional 2,175,100 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Air Lease Stock Performance

Shares of NYSE AL traded up $0.40 during midday trading on Thursday, reaching $49.19. The company had a trading volume of 1,000,840 shares, compared to its average volume of 1,413,719. The business’s 50-day simple moving average is $44.99 and its 200 day simple moving average is $40.94. The stock has a market cap of $5.48 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.69 and a beta of 1.65. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $51.77. 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 (NYSE:AL) last posted its quarterly earnings results on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.79. The business had revenue of $716.57 million during the quarter, compared to analysts’ expectations of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. On average, analysts forecast that Air Lease Co. will post 5.64 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.71%. Air Lease’s dividend payout ratio (DPR) is 16.31%.

Insider Activity

In other news, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the sale, the executive vice president now owns 72,073 shares in the company, valued at $2,884,361.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the transaction, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at $2,884,361.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex A. Khatibi sold 11,198 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $43.11, for a total transaction of $482,745.78. Following the completion of the transaction, the executive vice president now directly owns 87,499 shares in the company, valued at $3,772,081.89. The disclosure for this sale can be found here. Insiders have sold a total of 89,646 shares of company stock worth $3,705,152 over the last 90 days. 6.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. BMO Capital Markets upped their price target on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays upped their price target on shares of Air Lease from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

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.