Bank of New York Mellon Corp Has $48.15 Million Position in Air Lease Corporation (NYSE:AL)

Bank of New York Mellon Corp lessened its stake in Air Lease Corporation (NYSE:AL - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 996,626 shares of the transportation company's stock after selling 25,833 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Air Lease worth $48,147,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AL. Alpine Bank Wealth Management bought a new stake in shares of Air Lease in the first quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Air Lease in the fourth quarter valued at about $28,000. Engine Capital Management LP bought a new stake in shares of Air Lease in the fourth quarter valued at about $36,000. Versant Capital Management Inc lifted its stake in Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after purchasing an additional 348 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after purchasing an additional 1,049 shares during the period. Institutional investors own 94.59% of the company's stock.

Insider Activity

In other news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the completion of the transaction, the executive vice president owned 146,316 shares in the company, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.64% of the company's stock.

Air Lease Price Performance

Shares of NYSE:AL traded up $0.02 during trading on Thursday, reaching $58.32. The stock had a trading volume of 670,496 shares, compared to its average volume of 782,337. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41. The business's 50-day moving average price is $57.55 and its 200 day moving average price is $50.25. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $6.52 billion, a PE ratio of 10.20, a P/E/G ratio of 0.63 and a beta of 1.35.

Air Lease (NYSE:AL - Get Free Report) last posted its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The company had revenue of $738.28 million during the quarter, compared to analysts' expectations of $709.70 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. Air Lease's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is currently 15.38%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AL shares. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Barclays restated an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.29.

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.