Douglas Lane & Associates LLC trimmed its stake in shares of Air Lease Co. (NYSE:AL) by 2.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,362,177 shares of the transportation company’s stock after selling 34,496 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Air Lease were worth $60,508,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Air Lease by 35.6% during the third quarter. BlackRock Inc. now owns 6,353,494 shares of the transportation company’s stock valued at $186,920,000 after purchasing an additional 1,666,874 shares during the period. Wells Fargo & Company MN grew its holdings in Air Lease by 21.6% during the third quarter. Wells Fargo & Company MN now owns 1,982,643 shares of the transportation company’s stock worth $58,330,000 after buying an additional 352,563 shares in the last quarter. Royce & Associates LP lifted its stake in Air Lease by 0.6% during the 3rd quarter. Royce & Associates LP now owns 1,713,169 shares of the transportation company’s stock valued at $50,401,000 after acquiring an additional 10,668 shares in the last quarter. Cannell Peter B & Co. Inc. increased its position in shares of Air Lease by 12.4% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 1,463,360 shares of the transportation company’s stock valued at $43,052,000 after purchasing an additional 161,295 shares during the last quarter. Finally, Cooke & Bieler LP grew its position in shares of Air Lease by 4.3% during the 3rd quarter. Cooke & Bieler LP now owns 1,186,072 shares of the transportation company’s stock valued at $34,894,000 after acquiring an additional 49,350 shares during the period. 94.81% of the stock is currently owned by institutional investors.
Several analysts have issued reports on AL shares. Deutsche Bank Aktiengesellschaft boosted their target price on Air Lease from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, November 11th. Zacks Investment Research upgraded shares of Air Lease from a “strong sell” rating to a “hold” rating and set a $36.00 price objective for the company in a research note on Thursday, November 12th. Finally, Credit Suisse Group raised their price objective on shares of Air Lease from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, November 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.20.
Air Lease stock traded up $0.91 during trading hours on Thursday, reaching $45.09. The company had a trading volume of 17,369 shares, compared to its average volume of 842,744. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.65 and a beta of 2.20. Air Lease Co. has a 12-month low of $8.41 and a 12-month high of $49.96. The company has a debt-to-equity ratio of 2.54, a current ratio of 3.14 and a quick ratio of 3.14. The company has a 50-day moving average price of $42.11 and a 200 day moving average price of $33.38.
Air Lease (NYSE:AL) last issued its quarterly earnings data on Saturday, November 14th. The transportation company reported $1.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.02. Air Lease had a return on equity of 9.83% and a net margin of 27.48%. The firm had revenue of $494.00 million for the quarter, compared to analyst estimates of $523.24 million. During the same period last year, the company earned $1.80 EPS. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, research analysts expect that Air Lease Co. will post 4.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 6th. Stockholders of record on Friday, December 18th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. This is a boost from Air Lease’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, December 17th. Air Lease’s dividend payout ratio (DPR) is currently 12.57%.
About Air Lease
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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