Douglas Lane & Associates LLC cut its holdings in Air Lease Co. (NYSE:AL) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,362,177 shares of the transportation company’s stock after selling 34,496 shares during the quarter. Douglas Lane & Associates LLC owned approximately 1.20% of Air Lease worth $60,508,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AL. Huntington National Bank boosted its position in Air Lease by 34.0% in the 3rd quarter. Huntington National Bank now owns 208,849 shares of the transportation company’s stock valued at $6,144,000 after buying an additional 52,944 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Air Lease by 23.6% during the 3rd quarter. Voloridge Investment Management LLC now owns 114,396 shares of the transportation company’s stock worth $3,366,000 after acquiring an additional 21,865 shares in the last quarter. Harbor Investment Advisory LLC increased its position in shares of Air Lease by 95.2% in the 3rd quarter. Harbor Investment Advisory LLC now owns 1,220 shares of the transportation company’s stock worth $36,000 after purchasing an additional 595 shares during the last quarter. Two Sigma Advisers LP increased its stake in Air Lease by 55.5% during the second quarter. Two Sigma Advisers LP now owns 37,000 shares of the transportation company’s stock valued at $1,084,000 after purchasing an additional 13,200 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Air Lease by 30.7% during the first quarter. Morgan Stanley now owns 137,780 shares of the transportation company’s stock worth $3,050,000 after purchasing an additional 32,380 shares during the period. 94.81% of the stock is currently owned by hedge funds and other institutional investors.
AL has been the topic of several recent analyst reports. Zacks Investment Research raised Air Lease from a “strong sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research note on Thursday, November 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Air Lease from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 11th. Finally, Credit Suisse Group raised their target price on shares of Air Lease from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, November 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Air Lease has an average rating of “Buy” and an average price target of $40.20.
NYSE:AL traded up $0.91 during trading hours on Thursday, hitting $45.09. 17,369 shares of the company’s stock traded hands, compared to its average volume of 842,744. Air Lease Co. has a twelve month low of $8.41 and a twelve month high of $49.96. The firm has a market cap of $5.13 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.65 and a beta of 2.20. The company has a debt-to-equity ratio of 2.54, a quick ratio of 3.14 and a current ratio of 3.14. The stock’s fifty day moving average price is $42.11 and its two-hundred day moving average price is $33.38.
Air Lease (NYSE:AL) last issued its earnings results on Saturday, November 14th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.02. Air Lease had a net margin of 27.48% and a return on equity of 9.83%. The company had revenue of $494.00 million during the quarter, compared to analyst estimates of $523.24 million. During the same quarter last year, the business posted $1.80 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities research analysts predict that Air Lease Co. will post 4.3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 6th. Stockholders of record on Friday, December 18th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, December 17th. This is a boost from Air Lease’s previous quarterly dividend of $0.15. Air Lease’s dividend payout ratio is presently 12.57%.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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