Sequoia Financial Advisors LLC lessened its holdings in Air Lease Co. (NYSE:AL – Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,702 shares of the transportation company’s stock after selling 1,496 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Air Lease were worth $2,968,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of Air Lease during the first quarter worth about $31,000. Neo Ivy Capital Management purchased a new position in shares of Air Lease during the third quarter worth about $40,000. Hexagon Capital Partners LLC grew its holdings in shares of Air Lease by 1,341.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock worth $53,000 after purchasing an additional 1,167 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Air Lease during the fourth quarter worth about $77,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Air Lease by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock worth $103,000 after buying an additional 683 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.
Air Lease Price Performance
Shares of NYSE:AL opened at $47.52 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.69. The company has a market cap of $5.29 billion, a P/E ratio of 9.58, a PEG ratio of 0.90 and a beta of 1.59. Air Lease Co. has a 52 week low of $33.33 and a 52 week high of $52.31. The company has a 50-day moving average price of $47.91 and a 200 day moving average price of $45.52.
Air Lease (NYSE:AL – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The firm had revenue of $663.31 million during the quarter, compared to analyst estimates of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. Air Lease’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. Research analysts predict that Air Lease Co. will post 6.96 earnings per share for the current year.
Air Lease Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Tuesday, June 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. Air Lease’s payout ratio is currently 16.94%.
Analyst Upgrades and Downgrades
AL has been the subject of several recent research reports. TD Cowen decreased their target price on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Barclays increased their target price on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.80.
View Our Latest Stock Analysis on Air Lease
Air Lease Company Profile
(Free Report)
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.
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