Teachers Retirement System of The State of Kentucky Raises Stock Position in Air Lease Co. (NYSE:AL)

Teachers Retirement System of The State of Kentucky lifted its position in Air Lease Co. (NYSE:AL) by 44.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,500 shares of the transportation company’s stock after purchasing an additional 11,187 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Air Lease were worth $1,735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after acquiring an additional 2,404,649 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Air Lease by 459.7% during the first quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock valued at $2,198,000 after buying an additional 37,207 shares during the period. Park West Asset Management LLC bought a new position in Air Lease in the fourth quarter worth approximately $3,775,000. BW Gestao de Investimentos Ltda. purchased a new stake in Air Lease during the first quarter worth $5,144,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in Air Lease by 240.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock valued at $7,119,000 after acquiring an additional 97,703 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 1.4 %

Shares of AL stock opened at $43.51 on Friday. The stock’s fifty day moving average price is $44.53 and its 200 day moving average price is $47.11. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $52.31. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The business had revenue of $667.29 million for the quarter, compared to analysts’ expectations of $687.93 million. On average, research analysts expect that Air Lease Co. will post 6.46 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 6th. Air Lease’s dividend payout ratio is presently 16.94%.

Analyst Ratings Changes

AL has been the subject of a number of analyst reports. TD Cowen initiated coverage on Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Barclays lowered their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

Air Lease Company 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.