Sit Investment Associates Inc. Sells 58,400 Shares of Air Lease Co. (NYSE:AL)

Sit Investment Associates Inc. lessened its holdings in Air Lease Co. (NYSE:AL - Free Report) by 38.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,565 shares of the transportation company's stock after selling 58,400 shares during the quarter. Sit Investment Associates Inc. owned 0.08% of Air Lease worth $4,414,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AL. Arizona State Retirement System lifted its position in Air Lease by 0.8% during the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company's stock worth $1,480,000 after buying an additional 244 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Air Lease by 11.6% in the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company's stock worth $128,000 after acquiring an additional 276 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Air Lease by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company's stock worth $2,098,000 after purchasing an additional 318 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Air Lease by 23.6% in the fourth quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company's stock valued at $111,000 after purchasing an additional 441 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

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Air Lease Price Performance

NYSE:AL traded down $0.04 during trading hours on Friday, hitting $40.69. The company's stock had a trading volume of 269,826 shares, compared to its average volume of 754,106. 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 company has a market capitalization of $4.55 billion, a P/E ratio of 12.23, a PEG ratio of 1.33 and a beta of 1.34. Air Lease Co. has a twelve month low of $38.25 and a twelve month high of $52.31. The stock has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $46.84.

Air Lease (NYSE:AL - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, analysts anticipate that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.16%. Air Lease's dividend payout ratio is presently 26.43%.

Analyst Ratings Changes

Several analysts have commented on AL shares. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $72.00 to $50.00 in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.