Cerity Partners LLC Invests $212,000 in Air Lease Co. (NYSE:AL)

Cerity Partners LLC acquired a new stake in shares of Air Lease Co. (NYSE:AL) in the fourth quarter, HoldingsChannel reports. The fund acquired 5,049 shares of the transportation company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its holdings in shares of Air Lease by 296.1% during the 3rd quarter. CWM LLC now owns 911 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 681 shares in the last quarter. Neo Ivy Capital Management bought a new position in Air Lease during the third quarter valued at about $40,000. Quantbot Technologies LP bought a new position in Air Lease during the third quarter valued at about $48,000. Orion Capital Management LLC bought a new stake in shares of Air Lease during the 3rd quarter worth about $126,000. Finally, Quent Capital LLC increased its holdings in shares of Air Lease by 10.4% during the 4th quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock valued at $159,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Shares of NYSE AL opened at $52.00 on Tuesday. Air Lease Co. has a 12 month low of $33.33 and a 12 month high of $52.31. The company has a market cap of $5.79 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.71 and a beta of 1.65. The business’s 50 day moving average is $46.63 and its two-hundred day moving average is $41.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.79. The business had revenue of $716.57 million for the quarter, compared to the consensus estimate of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. Air Lease’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. On average, equities analysts expect that Air Lease Co. will post 5.64 EPS for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Thursday, March 14th. Air Lease’s dividend payout ratio is currently 16.31%.

Analysts Set New Price Targets

Several research firms recently weighed in on AL. BMO Capital Markets boosted their target price on Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Barclays upped their price objective on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Air Lease has an average rating of “Moderate Buy” and an average target price of $53.25.

Insider Activity at Air Lease

In other Air Lease 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 completion of the transaction, the executive vice president now owns 76,300 shares of the company’s stock, valued at approximately $3,614,331. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex A. Khatibi sold 11,199 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.37, for a total transaction of $530,496.63. Following the completion of the sale, the executive vice president now directly owns 76,300 shares in the company, valued at approximately $3,614,331. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,646 shares of company stock worth $3,705,152. Company insiders own 6.64% of the company’s stock.

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.