Squarepoint Ops LLC increased its holdings in Air Lease Co. (NYSE:AL – Free Report) by 429.0% in the second quarter, Holdings Channel.com reports. The firm owned 30,635 shares of the transportation company’s stock after acquiring an additional 24,844 shares during the period. Squarepoint Ops LLC’s holdings in Air Lease were worth $1,456,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in AL. Vanguard Group Inc. lifted its stake in Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Air Lease by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock valued at $192,260,000 after acquiring an additional 1,407,902 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Air Lease by 8,069.3% in the 1st quarter. Principal Financial Group Inc. now owns 532,886 shares of the transportation company’s stock valued at $27,412,000 after acquiring an additional 526,363 shares during the last quarter. Artemis Investment Management LLP bought a new position in Air Lease during the 2nd quarter worth approximately $22,339,000. Finally, Earnest Partners LLC grew its position in Air Lease by 19.4% during the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock worth $108,724,000 after acquiring an additional 343,360 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.
Analysts Set New Price Targets
AL has been the subject of a number of analyst reports. TD Cowen assumed coverage on Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. Barclays dropped their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.75.
Air Lease Price Performance
Shares of Air Lease stock opened at $43.51 on Friday. The company has a market cap of $4.85 billion, a PE ratio of 8.71, a P/E/G ratio of 1.01 and a beta of 1.59. The business has a 50 day moving average of $44.65 and a 200 day moving average of $47.13. Air Lease Co. has a 52 week low of $33.33 and a 52 week high of $52.31. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69.
Air Lease (NYSE:AL – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.41). The company had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. As a group, equities research analysts forecast that Air Lease Co. will post 6.46 earnings per share for the current year.
Air Lease Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.84 annualized dividend and a yield of 1.93%. Air Lease’s payout ratio is 16.94%.
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.
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