Massachusetts Financial Services Co. MA Sells 26,064 Shares of Air Lease Corporation (NYSE:AL)

Massachusetts Financial Services Co. MA cut its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,076,681 shares of the transportation company's stock after selling 26,064 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.96% of Air Lease worth $52,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in shares of Air Lease in the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in Air Lease in the fourth quarter valued at about $28,000. Versant Capital Management Inc lifted its stake in Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after buying an additional 348 shares during the period. Engine Capital Management LP bought a new position in Air Lease during the fourth quarter worth about $36,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Air Lease by 5,245.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after buying an additional 1,049 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and increased their price target for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Finally, Barclays reaffirmed 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. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Air Lease has an average rating of "Moderate Buy" and a consensus target price of $59.29.

Air Lease Stock Down 1.3%

Air Lease stock traded down $0.77 during mid-day trading on Friday, reaching $57.54. The stock had a trading volume of 588,989 shares, compared to its average volume of 781,098. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $60.41. The stock's 50-day simple moving average is $57.63 and its 200-day simple moving average is $50.32. The firm has a market capitalization of $6.43 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.62 and a beta of 1.35.

Air Lease (NYSE:AL - Get Free Report) last posted its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The company had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. During the same quarter last year, the company earned $0.87 earnings per share. The company's revenue for the quarter was up 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced 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 was Wednesday, June 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. Air Lease's payout ratio is presently 15.38%.

Insider Activity

In other news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction 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 completion of the transaction, the executive vice president directly owned 146,316 shares in the company, valued at approximately $8,318,064.60. The trade was a 6.40% 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 the SEC website. 6.64% of the stock is currently owned by insiders.

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.