Barton Investment Management Trims Position in Air Lease Co. (NYSE:AL)

Barton Investment Management lowered its position in Air Lease Co. (NYSE:AL - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 668,418 shares of the transportation company's stock after selling 8,705 shares during the period. Air Lease comprises 4.0% of Barton Investment Management's holdings, making the stock its 6th largest position. Barton Investment Management owned 0.60% of Air Lease worth $32,291,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Air Lease during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Air Lease in the fourth quarter valued at approximately $31,000. Engine Capital Management LP bought a new stake in shares of Air Lease during the fourth quarter worth $36,000. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 348 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of 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 acquiring an additional 1,049 shares during the period. Institutional investors own 94.59% of the company's stock.

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president now directly owns 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AL. Bank of America lowered shares of Air Lease from a "buy" rating to an "underperform" rating and reduced their target price 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 Air Lease in a report on Friday, March 7th. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and lifted their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. boosted their target price on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.43.

Air Lease Price Performance

Shares of NYSE AL opened at $57.65 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $50.07 and a 200-day moving average of $48.61. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.33 and a beta of 1.36. Air Lease Co. has a fifty-two week low of $38.25 and a fifty-two week high of $59.27.

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

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. Air Lease's dividend payout ratio is presently 15.38%.

Air Lease 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.

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