Air Lease Co. (NYSE:AL) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in shares of Air Lease Co. (NYSE:AL - Free Report) by 58.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,062 shares of the transportation company's stock after selling 176,737 shares during the quarter. Sterling Capital Management LLC owned 0.11% of Air Lease worth $6,174,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in shares of Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company's stock worth $157,000 after acquiring an additional 389 shares during the period. Captrust Financial Advisors grew its position in Air Lease by 8.7% during the 3rd quarter. Captrust Financial Advisors now owns 10,924 shares of the transportation company's stock worth $495,000 after purchasing an additional 877 shares during the period. Stifel Financial Corp grew its position in Air Lease by 7.9% during the 3rd quarter. Stifel Financial Corp now owns 84,188 shares of the transportation company's stock worth $3,813,000 after purchasing an additional 6,136 shares during the period. State Street Corp raised its stake in shares of Air Lease by 0.8% during the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company's stock valued at $155,180,000 after buying an additional 25,874 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Air Lease by 8.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 11,804 shares of the transportation company's stock valued at $557,000 after buying an additional 900 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

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Air Lease Price Performance

NYSE AL traded down $0.14 on Tuesday, hitting $42.45. The company had a trading volume of 1,029,836 shares, compared to its average volume of 759,931. 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's fifty day moving average price is $46.23 and its 200-day moving average price is $46.77. The company has a market capitalization of $4.74 billion, a PE ratio of 12.75, a PEG ratio of 1.33 and a beta of 1.34. Air Lease Co. has a 12-month low of $38.25 and a 12-month high of $52.31.

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 analysts' consensus estimates 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, analysts predict that Air Lease Co. will post 5.16 earnings per share for the current 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 given a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. Air Lease's dividend payout ratio (DPR) is presently 26.43%.

Analysts Set New Price Targets

Several analysts recently commented on AL shares. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. UBS Group set a $50.00 price objective on shares of Air Lease in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note 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's stock. According to data from MarketBeat, Air Lease currently 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.