Air Lease Co. (NYSE:AL) Shares Sold by Barton Investment Management

Barton Investment Management trimmed its stake in shares of Air Lease Co. (NYSE:AL) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 668,418 shares of the transportation company’s stock after selling 8,705 shares during the quarter. Air Lease accounts for about 4.0% of Barton Investment Management’s holdings, making the stock its 6th largest holding. Barton Investment Management’s holdings in Air Lease were worth $32,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AL. Wellington Management Group LLP grew its position in shares of Air Lease by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company’s stock valued at $259,574,000 after purchasing an additional 362,585 shares during the last quarter. American Century Companies Inc. boosted its stake in Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company’s stock valued at $155,570,000 after purchasing an additional 389,070 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Air Lease by 43.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock valued at $134,332,000 after purchasing an additional 842,780 shares during the period. Earnest Partners LLC grew its holdings in Air Lease by 0.4% in the 4th quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company’s stock valued at $124,282,000 after buying an additional 9,809 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Air Lease by 50.7% during the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company’s stock worth $98,830,000 after buying an additional 690,000 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president now owns 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.64% of the company’s stock.

Air Lease Trading Up 1.0%

AL opened at $57.65 on Friday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.33 and a beta of 1.36. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a twelve month low of $38.25 and a twelve month high of $59.27. The company has a 50-day simple moving average of $50.07 and a 200 day simple moving average of $48.61.

Air Lease (NYSE:AL) last issued its earnings results on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.24 by $0.27. The company had revenue of $738.28 million during the quarter, compared to analysts’ expectations of $709.70 million. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. Analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.53%. Air Lease’s dividend payout ratio is currently 15.38%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AL shares. 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 report on Tuesday, February 18th. Bank of America lowered shares of Air Lease from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. Wall Street Zen raised shares of Air Lease from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Finally, Citigroup upgraded shares of Air Lease from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

About Air Lease

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.