KCS Wealth Advisory bought a new position in shares of Air Lease Co. (NYSE:AL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,047 shares of the transportation company’s stock, valued at approximately $224,000.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its position 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 buying an additional 1,666,874 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Air Lease by 348.5% during the third quarter. JPMorgan Chase & Co. now owns 644,369 shares of the transportation company’s stock valued at $18,860,000 after buying an additional 500,702 shares during the last quarter. Stamina Capital Management LP purchased a new stake in shares of Air Lease during the third quarter valued at about $13,239,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Air Lease by 64.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,129,383 shares of the transportation company’s stock valued at $33,226,000 after buying an additional 444,276 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of Air Lease by 155,106.8% during the fourth quarter. Peregrine Capital Management LLC now owns 366,288 shares of the transportation company’s stock valued at $16,271,000 after buying an additional 366,052 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.
Several analysts have commented on AL shares. Cowen increased their price target on shares of Air Lease from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, January 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Air Lease from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 25th. Zacks Investment Research raised 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 report on Thursday, November 12th. Finally, Credit Suisse Group increased 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $42.60.
In other Air Lease news, EVP Alex A. Khatibi sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $41.93, for a total transaction of $1,006,320.00. Following the completion of the transaction, the executive vice president now directly owns 119,401 shares of the company’s stock, valued at approximately $5,006,483.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jie Chen sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $41.96, for a total transaction of $1,049,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 74,000 shares of company stock valued at $3,111,820 over the last three months. 6.88% of the stock is currently owned by insiders.
Shares of Air Lease stock opened at $39.63 on Friday. Air Lease Co. has a 52 week low of $8.41 and a 52 week high of $46.20. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $4.51 billion, a P/E ratio of 8.14, a PEG ratio of 0.66 and a beta of 2.20. The company has a 50 day moving average price of $43.12 and a 200 day moving average price of $34.56.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Saturday, November 14th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.02. Air Lease had a net margin of 27.48% and a return on equity of 9.83%. The company had revenue of $494.00 million during the quarter, compared to analyst estimates of $523.24 million. During the same period last year, the firm posted $1.80 EPS. Air Lease’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts anticipate that Air Lease Co. will post 4.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Shareholders of record on Friday, December 18th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, December 17th. This is a positive change from Air Lease’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 1.61%. 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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