Ingalls & Snyder LLC Sells 2,835 Shares of Air Lease Co. (NYSE:AL)

Ingalls & Snyder LLC decreased its position in Air Lease Co. (NYSE:AL) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,404 shares of the transportation company’s stock after selling 2,835 shares during the period. Ingalls & Snyder LLC’s holdings in Air Lease were worth $604,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Air Lease by 2.0% during the third quarter. Vanguard Group Inc. now owns 9,709,215 shares of the transportation company’s stock valued at $301,082,000 after buying an additional 194,211 shares during the last quarter. BlackRock Inc. boosted its stake in Air Lease by 1.6% during the 1st quarter. BlackRock Inc. now owns 5,763,177 shares of the transportation company’s stock valued at $257,324,000 after purchasing an additional 90,225 shares during the last quarter. Wellington Management Group LLP boosted its stake in Air Lease by 36.7% during the 1st quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock valued at $243,180,000 after purchasing an additional 1,460,769 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Air Lease by 3.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,542,411 shares of the transportation company’s stock worth $178,834,000 after purchasing an additional 151,988 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Air Lease by 141.3% in the first quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock worth $165,846,000 after purchasing an additional 2,175,100 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AL. StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. BMO Capital Markets raised their price target on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays boosted their price objective on shares of Air Lease from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Air Lease Stock Down 1.2 %

Air Lease stock opened at $48.55 on Friday. The stock has a market cap of $5.41 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.67 and a beta of 1.65. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $45.10 and a 200 day moving average of $41.01. Air Lease Co. has a one year low of $33.33 and a one year high of $51.77.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.10 by $0.79. The firm had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. As a group, sell-side analysts predict that Air Lease Co. will post 5.64 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were given a $0.21 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.84 annualized dividend and a yield of 1.73%. Air Lease’s payout ratio is presently 16.31%.

Insider Transactions at Air Lease

In other Air Lease news, CEO John L. Plueger sold 19,095 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the sale, the chief executive officer now owns 859,153 shares of the company’s stock, valued at $34,598,091.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John L. Plueger sold 19,095 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total transaction of $768,955.65. Following the sale, the chief executive officer now owns 859,153 shares in the company, valued at $34,598,091.31. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock worth $3,705,152 in the last 90 days. 6.64% of the stock is currently owned by insiders.

About Air Lease

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.