Reinhart Partners LLC. Has $73.62 Million Position in Air Lease Co. (NYSE:AL)

Reinhart Partners LLC. raised its holdings in shares of Air Lease Co. (NYSE:ALFree Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,431,200 shares of the transportation company’s stock after acquiring an additional 28,918 shares during the period. Air Lease comprises approximately 3.0% of Reinhart Partners LLC.’s portfolio, making the stock its 10th biggest holding. Reinhart Partners LLC. owned about 1.29% of Air Lease worth $73,621,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Janney Capital Management LLC lifted its position in Air Lease by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 10,668 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 325 shares during the last quarter. Neo Ivy Capital Management raised its holdings in Air Lease by 32.4% during the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after buying an additional 330 shares during the last quarter. Quent Capital LLC boosted its position in Air Lease by 10.4% during the 4th quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock valued at $159,000 after buying an additional 358 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Air Lease by 6.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,088 shares of the transportation company’s stock worth $240,000 after acquiring an additional 360 shares during the last quarter. Finally, Mariner LLC grew its holdings in Air Lease by 2.1% in the 3rd quarter. Mariner LLC now owns 17,716 shares of the transportation company’s stock worth $698,000 after acquiring an additional 361 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

NYSE:AL traded up $1.00 during mid-day trading on Tuesday, reaching $46.32. The company’s stock had a trading volume of 563,974 shares, compared to its average volume of 1,156,126. The firm’s fifty day moving average price is $48.51 and its two-hundred day moving average price is $44.88. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. The stock has a market cap of $5.16 billion, a P/E ratio of 9.34, a PEG ratio of 0.74 and a beta of 1.62. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31.

Air Lease (NYSE:ALGet Free Report) last announced its earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The company had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Air Lease’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Air Lease Co. will post 6.96 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be given a $0.21 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.81%. Air Lease’s payout ratio is presently 16.94%.

Wall Street Analyst Weigh In

AL has been the subject of a number of recent analyst reports. TD Cowen decreased their target price on Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Barclays boosted their price target on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report 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 stock an “outperform” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Check Out Our Latest Stock Analysis on Air Lease

About Air Lease

(Free Report)

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.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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