Peregrine Capital Management LLC Has $6.60 Million Stock Holdings in Air Lease Corporation (NYSE:AL)

Peregrine Capital Management LLC lowered its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 5.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 136,527 shares of the transportation company's stock after selling 7,417 shares during the period. Peregrine Capital Management LLC owned approximately 0.12% of Air Lease worth $6,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in Air Lease in the fourth quarter worth $49,415,000. Capital Research Global Investors lifted its position in 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 buying an additional 690,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Air Lease in the fourth quarter worth $31,414,000. Allspring Global Investments Holdings LLC lifted its position in Air Lease by 19.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after buying an additional 553,080 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Air Lease by 13.7% in the fourth quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock worth $155,570,000 after buying an additional 389,070 shares during the last quarter. Institutional investors own 94.59% of the company's stock.

Insider Transactions at Air Lease

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

Air Lease Stock Up 0.6%

NYSE AL traded up $0.38 during mid-day trading on Wednesday, reaching $58.90. 882,055 shares of the company's stock traded hands, compared to its average volume of 788,590. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $59.27. The company has a fifty day simple moving average of $55.32 and a 200-day simple moving average of $49.48. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.63 and a beta of 1.35.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. During the same quarter in the previous year, the business earned $0.87 EPS. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities research analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.49%. Air Lease's dividend payout ratio is 15.38%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. UBS Group set a $50.00 price objective on Air Lease in a report on Friday, March 7th. Finally, Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.