Cohen Klingenstein LLC Has $1.09 Million Stake in Air Lease Co. (NYSE:AL)

Cohen Klingenstein LLC lessened its stake in Air Lease Co. (NYSE:AL - Free Report) by 36.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,500 shares of the transportation company's stock after selling 13,000 shares during the quarter. Cohen Klingenstein LLC's holdings in Air Lease were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AL. Aster Capital Management DIFC Ltd purchased a new position in Air Lease in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Air Lease in the fourth quarter valued at $31,000. Engine Capital Management LP acquired a new stake in Air Lease during the 4th quarter valued at $36,000. Versant Capital Management Inc increased its stake in 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 during the period. Finally, Brown Brothers Harriman & Co. boosted its position in Air Lease by 5,245.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after buying an additional 1,049 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AL shares. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Bank of America downgraded 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. Finally, UBS Group set a $50.00 price objective on Air Lease in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.43.

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the business's 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 sale, the executive vice president now directly owns 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.64% of the company's stock.

Air Lease Stock Performance

Shares of NYSE:AL traded down $0.12 during trading hours on Thursday, hitting $57.56. The stock had a trading volume of 169,042 shares, compared to its average volume of 788,165. The stock's fifty day simple moving average is $50.79 and its 200 day simple moving average is $48.78. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.33 and a beta of 1.36. 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 1-year low of $38.25 and a 1-year high of $59.27.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. 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 prior year, the business posted $0.87 earnings per share. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared 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 dividend yield of 1.53%. Air Lease's dividend payout ratio (DPR) is 15.38%.

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.