Balyasny Asset Management L.P. Has $3.46 Million Holdings in Air Lease Co. (NYSE:AL)

Balyasny Asset Management L.P. trimmed its position in Air Lease Co. (NYSE:AL - Free Report) by 80.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,747 shares of the transportation company's stock after selling 292,925 shares during the period. Balyasny Asset Management L.P. owned approximately 0.06% of Air Lease worth $3,459,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Air Lease during the 4th quarter worth approximately $28,000. Wilmington Savings Fund Society FSB acquired a new stake in Air Lease during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in shares of Air Lease during the 4th quarter worth approximately $31,000. Brown Brothers Harriman & Co. grew its stake in shares of Air Lease by 5,245.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Air Lease by 1,506.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after acquiring an additional 1,115 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction on Tuesday, May 13th. The stock was 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. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.64% of the company's stock.

Air Lease Stock Up 0.1%

Shares of NYSE:AL traded up $0.08 during midday trading on Friday, hitting $57.48. The stock had a trading volume of 661,843 shares, compared to its average volume of 773,838. Air Lease Co. has a 12 month low of $38.25 and a 12 month high of $57.80. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. The business's 50-day simple moving average is $47.10 and its 200-day simple moving average is $47.56. The company has a market cap of $6.42 billion, a P/E ratio of 17.26, a PEG ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $709.70 million. During the same period last year, the business earned $0.87 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. Air Lease's dividend payout ratio (DPR) is 15.38%.

Wall Street Analyst Weigh In

AL has been the subject of several research reports. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. UBS Group set a $50.00 price target on shares of Air Lease in a research note on Friday, March 7th. StockNews.com raised shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.67.

Air Lease Company Profile

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.