TD Asset Management Inc Buys 9,762 Shares of Air Lease Co. (NYSE:AL)

Posted by Defense World Staff on May 9th, 2023

TD Asset Management Inc raised its stake in shares of Air Lease Co. (NYSE:AL – Get Rating) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,190 shares of the transportation company’s stock after acquiring an additional 9,762 shares during the quarter. TD Asset Management Inc owned approximately 0.05% of Air Lease worth $2,197,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new position in shares of Air Lease in the second quarter valued at about $31,000. Ellevest Inc. increased its position in Air Lease by 154.0% in the fourth quarter. Ellevest Inc. now owns 1,161 shares of the transportation company’s stock worth $45,000 after purchasing an additional 704 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Air Lease in the third quarter worth about $43,000. Lazard Asset Management LLC acquired a new stake in Air Lease in the first quarter worth about $66,000. Finally, Romano Brothers AND Company acquired a new stake in Air Lease in the fourth quarter worth about $59,000. 88.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AL shares. The Goldman Sachs Group started coverage on Air Lease in a research report on Tuesday, February 28th. They set a “buy” rating and a $59.00 target price for the company. StockNews.com lowered Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Finally, Credit Suisse Group restated an “outperform” rating and set a $55.00 target price on shares of Air Lease in a research report on Friday, February 17th.

Air Lease Trading Down 0.7 %

NYSE:AL opened at $37.56 on Tuesday. Air Lease Co. has a fifty-two week low of $29.75 and a fifty-two week high of $46.20. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.03 and a quick ratio of 1.12. The stock has a market capitalization of $4.17 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.56 and a beta of 1.77. The business’s 50-day simple moving average is $39.16 and its 200-day simple moving average is $39.58.

Air Lease (NYSE:AL – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The transportation company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.16. Air Lease had a return on equity of 7.60% and a net margin of 21.25%. The business had revenue of $601.61 million for the quarter, compared to analysts’ expectations of $598.62 million. Sell-side analysts expect that Air Lease Co. will post 4.77 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Tuesday, June 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, June 5th. Air Lease’s payout ratio is 19.42%.

Air Lease Company Profile

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Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.