Fourth Dimension Wealth LLC Purchases 1,656 Shares of Air Lease Corporation (NYSE:AL)

Fourth Dimension Wealth LLC raised its holdings in shares of Air Lease Corporation (NYSE:AL) by 153.6% in the first quarter, Holdings Channel reports. The institutional investor owned 2,734 shares of the transportation company’s stock after acquiring an additional 1,656 shares during the period. Fourth Dimension Wealth LLC’s holdings in Air Lease were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Air Lease by 0.8% in the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company’s stock worth $1,480,000 after acquiring an additional 244 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Air Lease by 11.6% in the 4th quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock valued at $128,000 after purchasing an additional 276 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Air Lease by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company’s stock valued at $2,210,000 after purchasing an additional 280 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Air Lease by 3.0% in the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company’s stock worth $461,000 after buying an additional 281 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after buying an additional 348 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the sale, the executive vice president now owns 146,316 shares of the company’s stock, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by insiders.

Air Lease Stock Down 0.1%

Shares of Air Lease stock opened at $56.42 on Tuesday. The company has a market cap of $6.31 billion, a P/E ratio of 9.86, a PEG ratio of 0.61 and a beta of 1.36. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39. Air Lease Corporation has a one year low of $38.25 and a one year high of $59.27. The firm has a fifty day moving average of $53.14 and a two-hundred day moving average of $49.07.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.56%. Air Lease’s payout ratio is 15.38%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup upgraded shares of Air Lease from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Air Lease from a “hold” rating to a “buy” rating in a research note 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, Bank of America lowered shares of 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Lease currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Air Lease Company 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.