Cerity Partners LLC Makes New Investment in Air Lease Co. (NYSE:AL)

Cerity Partners LLC purchased a new stake in Air Lease Co. (NYSE:AL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,049 shares of the transportation company’s stock, valued at approximately $212,000.

Other hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in Air Lease during the 4th quarter worth about $2,483,000. Cambiar Investors LLC lifted its stake in shares of Air Lease by 1.0% during the fourth quarter. Cambiar Investors LLC now owns 111,861 shares of the transportation company’s stock valued at $4,691,000 after buying an additional 1,105 shares during the period. Barton Investment Management boosted its position in Air Lease by 1.2% during the fourth quarter. Barton Investment Management now owns 758,578 shares of the transportation company’s stock worth $31,815,000 after acquiring an additional 8,653 shares during the last quarter. Oak Thistle LLC purchased a new stake in Air Lease in the 4th quarter worth approximately $423,000. Finally, Quent Capital LLC raised its holdings in Air Lease by 10.4% in the 4th quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock valued at $159,000 after acquiring an additional 358 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Price Performance

Shares of Air Lease stock opened at $52.00 on Tuesday. The stock has a market capitalization of $5.79 billion, a P/E ratio of 10.10, a PEG ratio of 0.71 and a beta of 1.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. The business’s fifty day moving average price is $46.63 and its 200 day moving average price is $41.88. Air Lease Co. has a twelve month low of $33.33 and a twelve month high of $52.31.

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

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, March 14th. Air Lease’s payout ratio is currently 16.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. BMO Capital Markets lifted their price target on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays increased their price objective on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

Insider Activity

In other Air Lease news, EVP Kishore Korde sold 16,593 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the transaction, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Air Lease news, EVP Kishore Korde sold 16,593 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the transaction, the executive vice president now owns 112,375 shares in the company, valued at approximately $4,461,287.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex A. Khatibi sold 11,199 shares of Air Lease stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.37, for a total transaction of $530,496.63. Following the sale, the executive vice president now owns 76,300 shares in the company, valued at approximately $3,614,331. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,646 shares of company stock valued at $3,705,152. Company insiders own 6.64% of the company’s stock.

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.