Air Lease Co. (NYSE:AL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Air Lease Co. (NYSE:AL - Free Report) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,965,205 shares of the transportation company's stock after selling 113,282 shares during the quarter. JPMorgan Chase & Co. owned about 4.46% of Air Lease worth $239,373,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AL. Bank of Montreal Can increased its position in shares of Air Lease by 1.4% during the third quarter. Bank of Montreal Can now owns 70,984 shares of the transportation company's stock worth $3,250,000 after purchasing an additional 966 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Air Lease by 6.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,665 shares of the transportation company's stock worth $1,117,000 after buying an additional 1,390 shares during the last quarter. BNP Paribas Financial Markets increased its position in Air Lease by 12.6% during the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company's stock worth $157,000 after buying an additional 389 shares during the period. Captrust Financial Advisors lifted its stake in Air Lease by 8.7% in the third quarter. Captrust Financial Advisors now owns 10,924 shares of the transportation company's stock valued at $495,000 after buying an additional 877 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Air Lease by 6.5% in the third quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company's stock valued at $829,000 after acquiring an additional 1,118 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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Air Lease Stock Performance

Air Lease stock traded down $3.13 during trading hours on Friday, reaching $42.00. 1,698,793 shares of the stock were exchanged, compared to its average volume of 742,597. Air Lease Co. has a 52-week low of $39.43 and a 52-week high of $52.31. The stock has a market cap of $4.69 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.33 and a beta of 1.60. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The firm's 50 day moving average is $46.93 and its 200 day moving average is $46.99.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (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%. Analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.10%. Air Lease's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AL. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and cut their target price for the company from $72.00 to $50.00 in a report on Friday, March 7th. UBS Group set a $50.00 target price on shares of Air Lease in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.67.

About Air Lease

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.