Raymond James Financial Services Advisors Inc. Grows Position in Air Lease Co. (NYSE:AL)

Raymond James Financial Services Advisors Inc. increased its holdings in Air Lease Co. (NYSE:AL) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,289 shares of the transportation company’s stock after acquiring an additional 2,930 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Air Lease were worth $1,061,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AL. Belpointe Asset Management LLC purchased a new stake in Air Lease in the first quarter worth about $28,000. Neo Ivy Capital Management bought a new position in Air Lease in the second quarter worth about $31,000. CWM LLC raised its holdings in Air Lease by 296.1% in the third quarter. CWM LLC now owns 911 shares of the transportation company’s stock worth $36,000 after purchasing an additional 681 shares in the last quarter. Quantbot Technologies LP bought a new position in Air Lease in the third quarter worth about $48,000. Finally, Tower Research Capital LLC TRC raised its holdings in Air Lease by 421.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,409 shares of the transportation company’s stock worth $59,000 after purchasing an additional 1,139 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

AL opened at $48.55 on Monday. Air Lease Co. has a 52-week low of $33.33 and a 52-week high of $51.77. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68. The company has a market cap of $5.41 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.66 and a beta of 1.65. The firm’s 50-day moving average price is $45.10 and its 200-day moving average price is $41.02.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The firm had revenue of $716.57 million for the quarter, compared to the consensus estimate of $672.95 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, equities analysts anticipate that Air Lease Co. will post 5.64 EPS 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 given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. Air Lease’s dividend payout ratio is currently 16.31%.

Insider Activity at Air Lease

In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the sale, the executive vice president now owns 72,073 shares in the company, valued at $2,884,361.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Alex A. Khatibi sold 11,199 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.37, for a total value of $530,496.63. Following the sale, the executive vice president now owns 76,300 shares in the company, valued at $3,614,331. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 owns 72,073 shares in the company, valued at approximately $2,884,361.46. The disclosure for this sale can be found here. Insiders have sold a total of 89,646 shares of company stock worth $3,705,152 over the last quarter. Insiders own 6.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AL. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. BMO Capital Markets boosted their target price on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays boosted their target price on shares of Air Lease from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.50.

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.