Cetera Investment Advisers Increases Holdings in Air Lease Corporation (NYSE:AL)

Cetera Investment Advisers grew its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 31.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,831 shares of the transportation company's stock after buying an additional 4,725 shares during the period. Cetera Investment Advisers' holdings in Air Lease were worth $958,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in Air Lease during the 1st quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in shares of Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after buying an additional 348 shares in the last quarter. Engine Capital Management LP acquired a new position in shares of Air Lease during the 4th quarter worth $36,000. Fourth Dimension Wealth LLC acquired a new position in shares of Air Lease during the 4th quarter worth $52,000. Finally, Archer Investment Corp acquired a new position in shares of Air Lease during the 1st quarter worth $147,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Air Lease

In other Air Lease news, EVP David Beker sold 2,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the completion of the sale, the executive vice president owned 19,770 shares in the company, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.64% of the company's stock.

Analysts Set New Price Targets

AL has been the topic of a number of analyst reports. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Barclays reissued an "overweight" rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.50.

Air Lease Stock Performance

Shares of AL stock traded down $0.70 during trading on Friday, hitting $57.21. The company's stock had a trading volume of 381,023 shares, compared to its average volume of 854,792. The company has a market cap of $6.39 billion, a PE ratio of 6.94, a P/E/G ratio of 0.59 and a beta of 1.41. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The business has a fifty day moving average of $57.35 and a 200-day moving average of $51.68. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business posted $1.23 earnings per share. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.5%. Air Lease's dividend payout ratio is 10.68%.

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.