BNP Paribas Financial Markets Grows Stock Position in Air Lease Co. (NYSE:AL)

BNP Paribas Financial Markets grew its position in shares of Air Lease Co. (NYSE:ALFree Report) by 812.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,740 shares of the transportation company’s stock after purchasing an additional 22,920 shares during the period. BNP Paribas Financial Markets’ holdings in Air Lease were worth $1,080,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Air Lease in the 3rd quarter valued at approximately $40,000. Quantbot Technologies LP acquired a new position in Air Lease during the 3rd quarter worth $48,000. Hexagon Capital Partners LLC increased its position in shares of Air Lease by 1,341.4% in the 4th 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 in the 4th quarter valued at about $77,000. Finally, SRS Capital Advisors Inc. lifted its position 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 purchasing an additional 683 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Down 1.4 %

AL stock opened at $47.86 on Wednesday. The firm’s 50-day moving average is $49.60 and its two-hundred day moving average is $44.05. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. Air Lease Co. has a 52 week low of $33.33 and a 52 week high of $52.31.

Air Lease (NYSE:ALGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The firm had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. During the same period in the previous year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts forecast that Air Lease Co. will post 6.2 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s payout ratio is 16.94%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AL. TD Cowen reduced their target price on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. BMO Capital Markets boosted their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays increased their price target on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Read Our Latest Research Report on AL

Insider Activity

In other Air Lease news, EVP Alex A. Khatibi sold 11,199 shares of Air Lease stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the transaction, the executive vice president now owns 76,300 shares in the company, valued at $3,614,331. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Alex A. Khatibi sold 11,199 shares of the company’s stock in a transaction on Friday, March 15th. The stock was 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 of the company’s stock, valued at $3,614,331. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex A. Khatibi sold 11,198 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.11, for a total value of $482,745.78. Following the completion of the transaction, the executive vice president now owns 87,499 shares of the company’s stock, valued at approximately $3,772,081.89. The disclosure for this sale can be found here. Insiders own 6.64% of the company’s stock.

Air Lease 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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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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