Air Lease Co. (NYSE:AL) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its stake in Air Lease Co. (NYSE:AL - Free Report) by 25.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 432,685 shares of the transportation company's stock after selling 151,546 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.39% of Air Lease worth $20,903,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in Air Lease during the fourth quarter worth $49,415,000. Allspring Global Investments Holdings LLC raised its position in shares of Air Lease by 43.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock worth $134,332,000 after acquiring an additional 842,780 shares during the period. Capital Research Global Investors raised its position in shares of Air Lease by 50.7% in the fourth quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after acquiring an additional 690,000 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Air Lease during the 4th quarter worth about $31,414,000. Finally, American Century Companies Inc. grew its position in shares of Air Lease by 13.7% during the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after acquiring an additional 389,070 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.

Air Lease Price Performance

AL stock traded up $0.58 during midday trading on Thursday, hitting $57.31. 214,369 shares of the stock were exchanged, compared to its average volume of 783,866. The stock's 50-day moving average price is $49.71 and its 200-day moving average price is $48.48. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.33 and a beta of 1.33. 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 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. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The business's revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. Research analysts predict that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of recent research reports. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and increased their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and dropped their target price for the company from $72.00 to $50.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. UBS Group set a $50.00 price target on Air Lease in a report on Friday, March 7th. Finally, Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.43.

Insider Transactions at Air Lease

In other Air Lease 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 transaction, the executive vice president now directly owns 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.64% of the company's stock.

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.