Wedge Capital Management L L P NC Sells 16,478 Shares of Air Lease Co. (NYSE:AL)

Wedge Capital Management L L P NC lessened its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 18.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,660 shares of the transportation company's stock after selling 16,478 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Air Lease worth $3,245,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its stake in Air Lease by 1.2% in the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company's stock valued at $966,000 after acquiring an additional 217 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Air Lease by 1.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company's stock worth $1,119,000 after purchasing an additional 291 shares during the period. CWM LLC increased its holdings in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company's stock valued at $148,000 after purchasing an additional 440 shares during the last quarter. Hilltop National Bank lifted its stake in Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company's stock valued at $84,000 after buying an additional 448 shares during the period. Finally, Fulton Bank N.A. lifted its stake in Air Lease by 6.6% in the third quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company's stock valued at $434,000 after buying an additional 597 shares during the period. Institutional investors own 94.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AL shares. JPMorgan Chase & Co. decreased their price target on shares of Air Lease from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, August 5th. Barclays decreased their target price on Air Lease from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They set a "buy" rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.75.

Air Lease Stock Up 2.9 %

AL traded up $1.27 during trading on Wednesday, hitting $45.07. The company had a trading volume of 879,239 shares, compared to its average volume of 994,699. The firm's 50-day moving average price is $44.27 and its 200 day moving average price is $46.80. The company has a market capitalization of $5.02 billion, a PE ratio of 9.09, a PEG ratio of 1.29 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The firm had revenue of $667.29 million for the quarter, compared to the consensus estimate of $687.93 million. As a group, equities analysts expect that Air Lease Co. will post 4.83 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Friday, September 6th. Air Lease's dividend payout ratio is presently 16.94%.

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.