Envestnet Asset Management Inc. lowered its stake in shares of Air Lease Co. (NYSE:AL - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 844,783 shares of the transportation company's stock after selling 42,682 shares during the period. Envestnet Asset Management Inc. owned 0.76% of Air Lease worth $40,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in Air Lease during the 4th quarter valued at approximately $31,000. Raymond James Financial Inc. purchased a new position in shares of Air Lease in the fourth quarter valued at $31,414,000. Barclays PLC increased its position in Air Lease by 104.6% in the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock worth $3,897,000 after purchasing an additional 43,981 shares during the last quarter. Principal Financial Group Inc. lifted its position in Air Lease by 9.2% during the third quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company's stock valued at $37,591,000 after purchasing an additional 69,887 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its position in Air Lease by 2.7% during the fourth quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company's stock valued at $76,451,000 after purchasing an additional 42,034 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and decreased their price target for the company from $72.00 to $50.00 in a report on Friday, March 7th. Finally, UBS Group set a $50.00 price objective on shares of Air Lease in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.67.
Check Out Our Latest Stock Analysis on Air Lease
Air Lease Trading Down 0.3 %
Air Lease stock traded down $0.14 during mid-day trading on Tuesday, hitting $42.45. The company's stock had a trading volume of 1,029,836 shares, compared to its average volume of 759,206. Air Lease Co. has a one year low of $38.25 and a one year high of $52.31. The stock has a market cap of $4.74 billion, a PE ratio of 12.75, a P/E/G ratio of 1.33 and a beta of 1.34. The company has a 50 day moving average of $46.30 and a 200-day moving average of $46.80. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37.
Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. On average, research analysts anticipate that Air Lease Co. will post 5.16 EPS for the current year.
Air Lease Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 18th. Air Lease's dividend payout ratio is presently 26.43%.
About Air Lease
(
Free Report)
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.
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