Prudential Financial Inc. lessened its holdings in Air Lease Co. (NYSE:AL - Free Report) by 32.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,812 shares of the transportation company's stock after selling 50,111 shares during the period. Prudential Financial Inc. owned about 0.09% of Air Lease worth $4,957,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can raised its position in Air Lease by 1.4% in the third quarter. Bank of Montreal Can now owns 70,984 shares of the transportation company's stock worth $3,250,000 after acquiring an additional 966 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Air Lease by 6.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,665 shares of the transportation company's stock worth $1,117,000 after purchasing an additional 1,390 shares during the period. BNP Paribas Financial Markets lifted 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 valued at $157,000 after purchasing an additional 389 shares in the last quarter. Captrust Financial Advisors grew its holdings in Air Lease by 8.7% during the third quarter. Captrust Financial Advisors now owns 10,924 shares of the transportation company's stock valued at $495,000 after purchasing an additional 877 shares during the period. Finally, Verition Fund Management LLC increased its position in Air Lease by 6.5% in the third quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company's stock worth $829,000 after buying an additional 1,118 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.
Air Lease Price Performance
NYSE AL traded down $3.13 during trading hours on Friday, reaching $42.00. The company's stock had a trading volume of 1,698,793 shares, compared to its average volume of 742,597. Air Lease Co. has a 1 year low of $39.43 and a 1 year high of $52.31. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.33 and a beta of 1.60. The firm's 50-day moving average price is $46.93 and its 200-day moving average price is $46.99.
Air Lease (NYSE:AL - Get Free Report) last released its 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, equities research analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.
Air Lease Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease's dividend payout ratio (DPR) is presently 26.43%.
Analyst Ratings Changes
A number of research firms have recently weighed in on AL. Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $72.00 to $50.00 in a research report on Friday, March 7th. UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.67.
Get Our Latest Analysis on Air Lease
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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