Air Lease Corporation (NYSE:AL) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in Air Lease Corporation (NYSE:AL - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,283 shares of the transportation company's stock after buying an additional 6,600 shares during the period. Sequoia Financial Advisors LLC owned 0.06% of Air Lease worth $3,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Air Lease during the fourth quarter worth approximately $31,000. Harbor Capital Advisors Inc. grew its position in shares of Air Lease by 17.0% during the first quarter. Harbor Capital Advisors Inc. now owns 190,296 shares of the transportation company's stock worth $9,193,000 after acquiring an additional 27,611 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Air Lease during the fourth quarter worth approximately $202,000. Raymond James Financial Inc. acquired a new position in shares of Air Lease in the 4th quarter valued at $31,414,000. Finally, Lighthouse Investment Partners LLC raised its position in Air Lease by 1,944.9% in the 4th quarter. Lighthouse Investment Partners LLC now owns 129,261 shares of the transportation company's stock valued at $6,232,000 after purchasing an additional 122,940 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

Shares of Air Lease stock traded up $0.10 on Tuesday, reaching $58.59. 884,477 shares of the stock were exchanged, compared to its average volume of 787,243. 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 firm has a market capitalization of $6.55 billion, a PE ratio of 10.24, a PEG ratio of 0.63 and a beta of 1.35. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $59.27. The business has a fifty day moving average price of $55.02 and a two-hundred day moving average price of $49.41.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results 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 company had revenue of $738.28 million for the quarter, compared to analysts' expectations of $709.70 million. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio is presently 15.38%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AL. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Bank of America downgraded shares of 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 note on Friday, March 7th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, UBS Group set a $50.00 price objective on Air Lease in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.43.

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 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.80% of the company's stock.

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.