First Trust Advisors LP Has $27.09 Million Position in Air Lease Co. (NYSE:AL)

First Trust Advisors LP lessened its holdings in shares of Air Lease Co. (NYSE:ALFree Report) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 645,971 shares of the transportation company’s stock after selling 45,734 shares during the period. First Trust Advisors LP owned approximately 0.58% of Air Lease worth $27,092,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AL. Principal Financial Group Inc. boosted its holdings in Air Lease by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 8,128 shares of the transportation company’s stock valued at $320,000 after purchasing an additional 423 shares during the period. Victory Capital Management Inc. grew its position in Air Lease by 7.3% during the third quarter. Victory Capital Management Inc. now owns 36,474 shares of the transportation company’s stock worth $1,437,000 after buying an additional 2,484 shares in the last quarter. Barclays PLC grew its position in Air Lease by 86.9% during the third quarter. Barclays PLC now owns 52,130 shares of the transportation company’s stock worth $2,054,000 after buying an additional 24,235 shares in the last quarter. Quantbot Technologies LP bought a new position in Air Lease during the third quarter valued at about $48,000. Finally, Amalgamated Bank raised its holdings in Air Lease by 60.8% in the 3rd quarter. Amalgamated Bank now owns 25,225 shares of the transportation company’s stock valued at $994,000 after acquiring an additional 9,538 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Insider Activity

In related news, 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 transaction, the executive vice president now owns 76,300 shares in the company, valued at approximately $3,614,331. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.64% of the stock is currently owned by corporate insiders.

Air Lease Stock Up 0.0 %

Shares of NYSE:AL opened at $45.95 on Tuesday. The company has a market capitalization of $5.12 billion, a PE ratio of 9.31, a P/E/G ratio of 0.85 and a beta of 1.62. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48. The company’s fifty day moving average is $49.18 and its 200-day moving average is $44.53. 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 posted its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to analyst estimates of $677.26 million. Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. Equities research analysts predict that Air Lease Co. will post 6.2 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, June 4th. Air Lease’s payout ratio is presently 16.94%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. TD Cowen lowered their price objective on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. BMO Capital Markets increased their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, Barclays upped their target price on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Lease presently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

View Our Latest Report on AL

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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