M&T Bank Corp Increases Position in Air Lease Corporation (NYSE:AL)

M&T Bank Corp raised its position in Air Lease Corporation (NYSE:AL) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,793 shares of the transportation company’s stock after buying an additional 508 shares during the period. M&T Bank Corp’s holdings in Air Lease were worth $714,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AL. Alpine Bank Wealth Management acquired a new stake in Air Lease in the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Air Lease in the 4th quarter worth about $28,000. Engine Capital Management LP acquired a new stake in Air Lease in the 4th quarter worth about $36,000. Versant Capital Management Inc boosted its holdings in shares of Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after purchasing an additional 348 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Air Lease by 5,245.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock worth $52,000 after purchasing an additional 1,049 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AL has been the topic of several recent research reports. Wall Street Zen upgraded Air Lease from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Citigroup upgraded Air Lease from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Finally, Barclays restated an “overweight” rating and set a $67.00 target price (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.29.

Air Lease Trading Up 0.5%

AL opened at $59.05 on Tuesday. Air Lease Corporation has a one year low of $38.25 and a one year high of $60.41. The stock has a market capitalization of $6.60 billion, a PE ratio of 10.32, a P/E/G ratio of 0.63 and a beta of 1.35. The business’s 50 day moving average price is $57.05 and its 200 day moving average price is $49.99. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm had revenue of $738.28 million for the quarter, compared to analysts’ expectations of $709.70 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, June 4th. Air Lease’s dividend payout ratio is presently 15.38%.

Insider Buying and Selling

In related news, EVP Grant A. Levy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president directly owned 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.64% of the company’s stock.

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.