Air Lease Co. (NYSE:AL) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in Air Lease Co. (NYSE:AL) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 246,697 shares of the transportation company’s stock after selling 9,319 shares during the quarter. Rhumbline Advisers owned 0.22% of Air Lease worth $11,918,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Air Lease by 104.6% during the third quarter. Barclays PLC now owns 86,033 shares of the transportation company’s stock valued at $3,897,000 after buying an additional 43,981 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Air Lease by 1,980.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,292 shares of the transportation company’s stock valued at $689,000 after acquiring an additional 13,605 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in Air Lease during the 4th quarter valued at about $405,000. Allspring Global Investments Holdings LLC grew its stake in Air Lease by 43.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock valued at $134,332,000 after acquiring an additional 842,780 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its stake in Air Lease by 1.8% during the 4th quarter. Stanley Laman Group Ltd. now owns 91,754 shares of the transportation company’s stock valued at $4,423,000 after acquiring an additional 1,645 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AL shares. JPMorgan Chase & Co. boosted their price target on shares of Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Citigroup upgraded Air Lease from a “neutral” rating to a “buy” rating and boosted their target price for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. UBS Group set a $50.00 price target on Air Lease in a research note on Friday, March 7th. Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and lowered their price target for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, Wall Street Zen raised shares of Air Lease from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, Air Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Air Lease Trading Up 0.7%

Shares of AL opened at $58.06 on Tuesday. The stock has a fifty day moving average price of $50.23 and a two-hundred day moving average price of $48.66. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $59.27. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.33 and a beta of 1.36.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same period in the previous year, the firm posted $0.87 earnings per share. Air Lease’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease’s dividend payout ratio (DPR) is presently 15.38%.

Insider Activity

In related news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the sale, the executive vice president now owns 146,316 shares of the company’s stock, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.64% of the stock is owned by corporate insiders.

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.