Teacher Retirement System of Texas Sells 1,365 Shares of Air Lease Co. (NYSE:AL)

Teacher Retirement System of Texas lowered its position in Air Lease Co. (NYSE:AL) by 5.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,783 shares of the transportation company’s stock after selling 1,365 shares during the period. Teacher Retirement System of Texas’ holdings in Air Lease were worth $956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in Air Lease during the 3rd quarter valued at approximately $40,000. Quantbot Technologies LP bought a new stake in shares of Air Lease in the 3rd quarter worth $48,000. Hexagon Capital Partners LLC increased its holdings in shares of Air Lease by 1,341.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock worth $53,000 after purchasing an additional 1,167 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Air Lease in the 4th quarter worth $77,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Air Lease by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock worth $103,000 after purchasing an additional 683 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Insider Activity

In other news, CEO John L. Plueger sold 28,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $40.06, for a total value of $1,142,310.90. Following the transaction, the chief executive officer now directly owns 808,842 shares in the company, valued at $32,402,210.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John L. Plueger sold 28,515 shares of Air Lease stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $40.06, for a total value of $1,142,310.90. Following the sale, the chief executive officer now directly owns 808,842 shares of the company’s stock, valued at $32,402,210.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kishore Korde sold 16,593 shares of Air Lease stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the sale, the executive vice president now directly owns 112,375 shares in the company, valued at $4,461,287.50. The disclosure for this sale can be found here. Insiders have sold 67,505 shares of company stock worth $2,814,295 over the last ninety days. Corporate insiders own 6.64% of the company’s stock.

Air Lease Price Performance

NYSE AL opened at $48.20 on Thursday. The company has a market capitalization of $5.37 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.63. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48. The business’s fifty day moving average is $49.47 and its 200 day moving average is $43.68. Air Lease Co. has a fifty-two week low of $33.33 and a fifty-two week high of $52.31.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The company had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. Air Lease’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. Sell-side analysts predict that Air Lease Co. will post 6.2 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. Air Lease’s payout ratio is 16.94%.

Analysts Set New Price Targets

A number of research firms have commented on AL. Barclays lifted their target price on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. TD Cowen dropped their price target on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. BMO Capital Markets raised their price target on Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

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.