Raymond James Financial Inc. Invests $31.41 Million in Air Lease Co. (NYSE:AL)

Raymond James Financial Inc. purchased a new position in shares of Air Lease Co. (NYSE:AL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 651,619 shares of the transportation company's stock, valued at approximately $31,414,000. Raymond James Financial Inc. owned approximately 0.59% of Air Lease as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Air Lease during the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB purchased a new stake in Air Lease during the 3rd quarter worth about $31,000. Steward Partners Investment Advisory LLC boosted its position in shares of Air Lease by 1,506.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after acquiring an additional 1,115 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Air Lease by 679.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company's stock valued at $72,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Air Lease by 2,018.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company's stock worth $108,000 after acquiring an additional 2,140 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

Shares of NYSE:AL traded up $1.51 during trading on Friday, reaching $46.03. The company had a trading volume of 550,239 shares, compared to its average volume of 699,178. Air Lease Co. has a fifty-two week low of $39.43 and a fifty-two week high of $52.31. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The stock's fifty day moving average price is $46.72 and its 200 day moving average price is $46.59. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.33 and a beta of 1.60.

Remove Ads

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, March 18th. Air Lease's payout ratio is 26.43%.

Analysts Set New Price Targets

AL has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. Bank of America lowered shares of Air Lease from a "buy" rating to an "underperform" rating and cut their price target for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their target price on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Finally, UBS Group set a $50.00 price target on Air Lease in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Air Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.

Air Lease 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.