Janney Montgomery Scott LLC Has $1.08 Million Stock Holdings in Air Lease Corporation $AL

Key Points

• Janney Montgomery Scott LLC reduced its holdings in Air Lease Corporation by 24.7% during the second quarter, now owning 18,480 shares worth approximately $1.08 million.
• A number of large investors have modified their positions, with 94.59% of Air Lease's stock now owned by institutional investors and hedge funds.
• Analysts have shown mixed sentiments, with Deutsche Bank downgrading Air Lease from a "buy" to a "hold" rating, while Barclays increased its target price from $56.00 to $67.00.

Janney Montgomery Scott LLC trimmed its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,480 shares of the transportation company's stock after selling 6,066 shares during the period. Janney Montgomery Scott LLC's holdings in Air Lease were worth $1,081,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Sage Rhino Capital LLC acquired a new position in shares of Air Lease during the 2nd quarter worth about $222,000. State of Alaska Department of Revenue boosted its stake in shares of Air Lease by 7.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 61,876 shares of the transportation company's stock worth $3,618,000 after buying an additional 4,483 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Air Lease by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company's stock worth $2,035,000 after buying an additional 234 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Air Lease during the 2nd quarter worth about $1,123,000. Finally, Diversified Trust Co acquired a new stake in Air Lease in the 2nd quarter valued at about $230,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price for the company. in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Air Lease in a research note on Wednesday, October 8th. Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. TD Cowen downgraded shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Barclays reiterated an "overweight" rating and issued a $67.00 target price (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Air Lease currently has an average rating of "Hold" and an average target price of $60.29.

Air Lease Stock Up 0.1%

Air Lease stock opened at $63.53 on Tuesday. The stock has a market cap of $7.10 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.65 and a beta of 1.37. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30. The company's 50-day moving average price is $61.39 and its two-hundred day moving average price is $56.16.

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

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease's dividend payout ratio (DPR) is currently 10.68%.

Insider Activity at Air Lease

In other news, EVP David Beker sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company's stock, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the transaction, the executive vice president directly owned 141,316 shares in the company, valued at $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $746,380 over the last ninety days. Insiders own 6.80% of the company's stock.

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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