First Citizens Bank & Trust Co. Purchases New Stake in Air Lease Co. (NYSE:AL)

First Citizens Bank & Trust Co. bought a new stake in shares of Air Lease Co. (NYSE:AL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 6,264 shares of the transportation company's stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arizona State Retirement System lifted its holdings in Air Lease by 0.8% during the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company's stock worth $1,480,000 after buying an additional 244 shares during the last quarter. Principal Securities Inc. increased its stake in Air Lease by 11.6% during the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company's stock valued at $128,000 after purchasing an additional 276 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Air Lease by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company's stock worth $2,210,000 after purchasing an additional 280 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Air Lease by 3.0% in the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company's stock valued at $461,000 after buying an additional 281 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Air Lease by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company's stock valued at $2,098,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Air Lease Stock Down 0.5%

Shares of NYSE:AL traded down $0.31 during midday trading on Thursday, reaching $57.37. The company had a trading volume of 106,019 shares, compared to its average volume of 787,944. The stock has a market cap of $6.41 billion, a PE ratio of 17.23, a P/E/G ratio of 1.33 and a beta of 1.36. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 1-year low of $38.25 and a 1-year high of $59.27. The business's 50 day moving average price is $50.79 and its 200 day moving average price is $48.78.

Air Lease (NYSE:AL - Get Free Report) last posted its 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 company had revenue of $738.28 million for 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 firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. Research analysts forecast that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have commented on AL. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and lowered their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. UBS Group set a $50.00 price target on Air Lease in a research report on Friday, March 7th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One investment 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 price target of $57.43.

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.