Cannell & Co. Has $24.82 Million Holdings in Air Lease Co. (NYSE:AL)

Cannell & Co. reduced its position in shares of Air Lease Co. (NYSE:AL) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 591,730 shares of the transportation company’s stock after selling 24,307 shares during the period. Cannell & Co. owned about 0.53% of Air Lease worth $24,817,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. CWM LLC increased its stake in Air Lease by 296.1% in the third quarter. CWM LLC now owns 911 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 681 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Air Lease in the third quarter valued at approximately $40,000. Quantbot Technologies LP bought a new stake in shares of Air Lease during the third quarter worth approximately $48,000. Hexagon Capital Partners LLC grew its stake in shares of Air Lease by 1,341.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Air Lease in the third quarter valued at approximately $126,000. Institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

AL has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets lifted their target price on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the sale, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at $2,884,361.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the sale, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kishore Korde sold 16,593 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the sale, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock valued at $3,705,152 over the last three months. 6.64% of the stock is owned by company insiders.

Air Lease Stock Performance

AL traded down $0.04 during trading on Wednesday, reaching $50.20. 302,623 shares of the company’s stock were exchanged, compared to its average volume of 1,305,712. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The company’s fifty day simple moving average is $47.04 and its 200-day simple moving average is $42.09. The stock has a market capitalization of $5.59 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.65.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.79. The company had revenue of $716.57 million for the quarter, compared to analysts’ expectations of $672.95 million. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, research analysts predict that Air Lease Co. will post 5.64 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s payout ratio is currently 16.31%.

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.