Air Lease Co. (NYSE:AL) Shares Sold by Richard P Slaughter Associates Inc

Richard P Slaughter Associates Inc cut its holdings in Air Lease Co. (NYSE:AL - Free Report) by 65.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,269 shares of the transportation company's stock after selling 30,926 shares during the quarter. Richard P Slaughter Associates Inc's holdings in Air Lease were worth $786,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. NBC Securities Inc. increased its position in shares of Air Lease by 104,954.5% during the first quarter. NBC Securities Inc. now owns 23,112 shares of the transportation company's stock worth $1,116,000 after acquiring an additional 23,090 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Air Lease by 8,561.9% during the 1st quarter. GAMMA Investing LLC now owns 200,003 shares of the transportation company's stock valued at $9,662,000 after purchasing an additional 197,694 shares during the last quarter. Versant Capital Management Inc grew its stake in Air Lease by 88.1% in the 1st 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 last quarter. Mackenzie Financial Corp increased its stake in shares of Air Lease by 93.0% during the fourth quarter. Mackenzie Financial Corp now owns 30,725 shares of the transportation company's stock worth $1,481,000 after purchasing an additional 14,805 shares during the period. Finally, University of Texas Texas AM Investment Management Co. boosted its position in shares of Air Lease by 24.6% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 143,097 shares of the transportation company's stock valued at $6,899,000 after acquiring an additional 28,250 shares during the period. Institutional investors and hedge funds own 94.59% of the company's stock.

Analyst Ratings Changes

AL has been the subject of a number of research analyst reports. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and boosted their price target for the stock 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. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and reduced their price target for the company from $72.00 to $50.00 in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the transaction, the executive vice president now directly owns 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.64% of the stock is currently owned by insiders.

Air Lease Price Performance

Shares of NYSE:AL traded up $0.35 during trading on Thursday, hitting $57.08. 674,630 shares of the company's stock were exchanged, compared to its average volume of 785,602. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.33 and a beta of 1.33. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $59.27. The business's 50-day simple moving average is $49.71 and its 200 day simple moving average is $48.48.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The firm had revenue of $738.28 million during the quarter, compared to analyst estimates of $709.70 million. During the same quarter in the previous year, the business earned $0.87 earnings per share. Air Lease's quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio is currently 15.38%.

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.