Raymond James Financial Inc. Has $31.16 Million Stake in Air Lease Corporation $AL

Key Points

• Raymond James Financial Inc. reduced its stake in Air Lease Corporation by 1.0%, selling 6,712 shares, bringing its total holdings to approximately 644,907 shares valued at $31.15 million.
• Several institutional investors increased their positions in Air Lease, with significant increases noted from Allspring Global Investments (19.7%) and American Century Companies (10.4%) during the 1st quarter.
• Air Lease's recent earnings report showed an EPS of $1.40, surpassing estimates, while the company has also declared a quarterly dividend of $0.22 per share with a yield of 1.5%.

Raymond James Financial Inc. reduced its stake in Air Lease Corporation (NYSE:AL - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 644,907 shares of the transportation company's stock after selling 6,712 shares during the period. Raymond James Financial Inc. owned 0.58% of Air Lease worth $31,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AL. Alpine Bank Wealth Management bought a new stake in shares of Air Lease in the first quarter valued at about $25,000. Engine Capital Management LP bought a new stake in shares of Air Lease in the fourth quarter valued at about $36,000. Versant Capital Management Inc boosted its position in shares of 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 acquiring an additional 348 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of Air Lease in the fourth quarter valued at about $52,000. Finally, Archer Investment Corp bought a new stake in shares of Air Lease in the first quarter valued at about $147,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Price Performance

AL traded down $0.53 on Friday, hitting $60.13. 560,927 shares of the stock were exchanged, compared to its average volume of 802,347. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $61.10. The business has a 50-day moving average of $57.85 and a two-hundred day moving average of $52.58. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.63 and a beta of 1.41.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analysts' expectations of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. Air Lease's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. Sell-side analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.5%. Air Lease's payout ratio is presently 10.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AL shares. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Barclays reissued an "overweight" rating and issued a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.50.

Insider Buying and Selling

In other Air Lease news, EVP David Beker sold 2,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.44, for a total transaction of $110,880.00. Following the completion of the transaction, the executive vice president owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.64% 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.