Air Lease Co. (NYSE:AL) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in shares of Air Lease Co. (NYSE:AL - Free Report) by 109.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,127 shares of the transportation company's stock after acquiring an additional 84,016 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.14% of Air Lease worth $7,297,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AL. Vanguard Group Inc. increased its holdings in Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company's stock valued at $647,018,000 after buying an additional 2,404,649 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Air Lease by 240.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company's stock worth $7,119,000 after purchasing an additional 97,703 shares during the last quarter. Texas Permanent School Fund Corp acquired a new position in Air Lease in the first quarter worth $4,649,000. Mutual of America Capital Management LLC acquired a new stake in shares of Air Lease during the first quarter worth $915,000. Finally, American Century Companies Inc. grew its position in shares of Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company's stock valued at $115,673,000 after buying an additional 115,293 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Performance

AL stock traded up $0.41 during trading on Friday, reaching $44.76. 676,300 shares of the company's stock were exchanged, compared to its average volume of 575,921. Air Lease Co. has a 1-year low of $35.21 and a 1-year high of $52.31. The firm has a market cap of $4.99 billion, a PE ratio of 9.58, a P/E/G ratio of 1.32 and a beta of 1.59. The company's fifty day moving average price is $44.32 and its 200-day moving average price is $46.37. 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 (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.41). The company had revenue of $667.29 million during the quarter, compared to analyst estimates of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. On average, research analysts expect that Air Lease Co. will post 4.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AL shares. Barclays dropped their price target on Air Lease from $55.00 to $54.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced 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. Finally, TD Cowen assumed coverage on shares of Air Lease in a report on Monday, July 29th. They issued a "buy" rating and a $58.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.75.

Air Lease Company 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.