Air Lease Co. (NYSE:AL) Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in Air Lease Co. (NYSE:AL - Free Report) by 10.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,007 shares of the transportation company's stock after selling 37,969 shares during the quarter. Royal Bank of Canada owned 0.29% of Air Lease worth $15,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Air Lease in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Air Lease during the fourth quarter valued at approximately $31,000. Engine Capital Management LP purchased a new stake in Air Lease during the fourth quarter valued at approximately $36,000. Brown Brothers Harriman & Co. raised its position in Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after acquiring an additional 1,049 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Air Lease by 1,506.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after acquiring an additional 1,115 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Insider Transactions at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 of the company's stock, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.64% of the company's stock.

Air Lease Stock Down 0.7%

Shares of AL stock traded down $0.38 during trading hours on Friday, reaching $57.83. 362,644 shares of the company's stock were exchanged, compared to its average volume of 782,866. Air Lease Co. has a fifty-two week low of $38.25 and a fifty-two week high of $59.27. The stock's 50 day moving average is $49.05 and its 200-day moving average is $48.25. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.27. The firm had revenue of $738.28 million during the quarter, compared to analysts' expectations of $709.70 million. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. Analysts predict that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is currently 15.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AL shares. Bank of America lowered shares of Air Lease from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, UBS Group set a $50.00 price target on Air Lease in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, Air Lease currently 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.