Air Lease Co. (NYSE:AL) Shares Purchased by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC lifted its stake in Air Lease Co. (NYSE:AL) by 12.8% in the fourth quarter, HoldingsChannel reports. The fund owned 15,599 shares of the transportation company’s stock after purchasing an additional 1,766 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Air Lease were worth $654,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Air Lease by 141.3% during the 1st quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock valued at $165,846,000 after buying an additional 2,175,100 shares during the period. Wellington Management Group LLP raised its stake in shares of Air Lease by 36.7% during the 1st quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock worth $243,180,000 after purchasing an additional 1,460,769 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Air Lease during the 1st quarter valued at about $58,077,000. Penn Capital Management Company LLC bought a new stake in shares of Air Lease in the 1st quarter valued at approximately $46,494,000. Finally, Norges Bank bought a new position in Air Lease during the fourth quarter valued at approximately $41,846,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Air Lease stock traded up $0.43 during trading hours on Friday, hitting $49.16. The stock had a trading volume of 405,159 shares, compared to its average volume of 1,356,760. Air Lease Co. has a fifty-two week low of $33.33 and a fifty-two week high of $51.77. The company has a market cap of $5.47 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.65. The company has a 50-day moving average of $45.59 and a two-hundred day moving average of $41.25. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.79. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The company had revenue of $716.57 million for the quarter, compared to analyst estimates of $672.95 million. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue was up 19.1% compared to the same quarter last year. On average, equities research analysts anticipate that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. Air Lease’s payout ratio is currently 16.31%.

Insider Activity

In other news, CEO John L. Plueger sold 19,095 shares of Air Lease stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the sale, the chief executive officer now owns 859,153 shares in the company, valued at approximately $34,598,091.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Alex A. Khatibi sold 11,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $43.11, for a total value of $482,745.78. Following the completion of the transaction, the executive vice president now directly owns 87,499 shares in the company, valued at approximately $3,772,081.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John L. Plueger sold 19,095 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.27, for a total transaction of $768,955.65. Following the sale, the chief executive officer now owns 859,153 shares in the company, valued at $34,598,091.31. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock valued at $3,705,152 over the last 90 days. 6.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AL has been the topic of a number of recent analyst reports. StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Barclays boosted their price objective on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, BMO Capital Markets lifted their target price on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

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.