New York State Teachers Retirement System Has $2.24 Million Holdings in Air Lease Corporation $AL

New York State Teachers Retirement System decreased its holdings in Air Lease Corporation (NYSE:AL) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,343 shares of the transportation company’s stock after selling 1,691 shares during the quarter. New York State Teachers Retirement System’s holdings in Air Lease were worth $2,243,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in Air Lease by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 4,140 shares of the transportation company’s stock worth $200,000 after buying an additional 1,831 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Air Lease by 8.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,808 shares of the transportation company’s stock worth $812,000 after acquiring an additional 1,243 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Air Lease by 4.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 62,152 shares of the transportation company’s stock valued at $3,003,000 after acquiring an additional 2,742 shares during the last quarter. Fourth Dimension Wealth LLC increased its position in Air Lease by 153.6% during the 1st quarter. Fourth Dimension Wealth LLC now owns 2,734 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,656 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Air Lease by 18.7% during the 1st quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company’s stock worth $503,000 after purchasing an additional 1,640 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Price Performance

AL stock opened at $63.64 on Wednesday. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The company’s 50-day moving average is $62.36 and its 200-day moving average is $56.79. The stock has a market capitalization of $7.11 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30.

Air Lease (NYSE:AL) last issued its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. Equities research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is presently 10.68%.

Analysts Set New Price Targets

AL has been the topic of a number of analyst reports. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Finally, Barclays reaffirmed an “overweight” rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.29.

Insiders Place Their Bets

In other news, EVP David Beker sold 5,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Grant A. Levy sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the sale, the executive vice president owned 141,316 shares in the company, valued at $8,983,458.12. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $746,380 in the last 90 days. 6.80% of the stock is currently owned by company insiders.

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.