Air Lease Corporation $AL Stake Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Air Lease Corporation (NYSE:AL) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,095 shares of the transportation company’s stock after purchasing an additional 3,812 shares during the period. Sequoia Financial Advisors LLC owned 0.07% of Air Lease worth $4,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Air Lease by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock worth $318,479,000 after buying an additional 31,274 shares during the last quarter. Wellington Management Group LLP grew its position in Air Lease by 1.3% in the first quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock worth $263,476,000 after acquiring an additional 69,629 shares in the last quarter. JPMorgan Chase & Co. grew its position in Air Lease by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock worth $242,778,000 after acquiring an additional 60,216 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Air Lease by 7.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock valued at $211,797,000 after purchasing an additional 265,423 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Air Lease by 10.4% in the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock valued at $172,143,000 after purchasing an additional 336,376 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Air Lease news, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction on Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Grant A. Levy sold 5,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares of the company’s stock, valued at $8,983,458.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock valued at $746,380. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AL shares. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 3rd. Finally, Barclays restated an “overweight” rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Air Lease currently has an average rating of “Hold” and an average price target of $60.29.

Air Lease Stock Up 0.1%

Shares of AL stock opened at $63.60 on Wednesday. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The firm has a market cap of $7.11 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37. The stock has a 50 day moving average of $61.57 and a 200-day moving average of $56.21. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Air Lease’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 3rd. Air Lease’s dividend payout ratio (DPR) is presently 10.68%.

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.