Journey Strategic Wealth LLC Makes New $277,000 Investment in Air Lease Corporation (NYSE:AL)

Key Points

• Journey Strategic Wealth LLC has made a new investment in Air Lease Corporation, acquiring 5,726 shares worth approximately $277,000 in the 1st quarter of the year.
• Analysts have recently upgraded Air Lease's stock ratings, with targets set as high as $68.00 by Citigroup, indicating a generally positive outlook on the company's performance.
• Air Lease announced a quarterly dividend of $0.22 per share, providing a yield of 1.51%, and has a dividend payout ratio of 15.38%.

Journey Strategic Wealth LLC bought a new position in Air Lease Corporation (NYSE:AL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,726 shares of the transportation company's stock, valued at approximately $277,000.

Other large investors have also added to or reduced their stakes in the company. M&T Bank Corp boosted its position in shares of Air Lease by 3.6% during the 1st quarter. M&T Bank Corp now owns 14,793 shares of the transportation company's stock valued at $714,000 after acquiring an additional 508 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Air Lease by 18.7% during the 1st quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company's stock valued at $503,000 after acquiring an additional 1,640 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of Air Lease during the 1st quarter valued at about $348,000. Sequoia Financial Advisors LLC boosted its position in shares of Air Lease by 10.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 71,283 shares of the transportation company's stock valued at $3,444,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Air Lease by 17.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 190,296 shares of the transportation company's stock valued at $9,193,000 after acquiring an additional 27,611 shares during the last quarter. Institutional investors own 94.59% of the company's stock.

Analysts Set New Price Targets

AL has been the subject of a number of research 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 reiterated an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.29.

Insider Buying and Selling

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president directly owned 146,316 shares of the company's stock, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.64% of the stock is owned by company insiders.

Air Lease Stock Performance

NYSE:AL opened at $58.12 on Friday. The business has a 50 day moving average of $57.71 and a 200 day moving average of $50.65. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.62 and a beta of 1.35. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $60.41. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. The company 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 8.04% and a net margin of 24.77%. Air Lease's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. On average, sell-side analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. Air Lease's dividend payout ratio (DPR) is currently 15.38%.

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.

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