JPMorgan Chase & Co. Has $41.64 Million Holdings in Air Lease Corporation $AL

JPMorgan Chase & Co. cut its stake in Air Lease Corporation (NYSE:AL) by 86.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 654,102 shares of the transportation company’s stock after selling 4,142,874 shares during the period. JPMorgan Chase & Co.’s holdings in Air Lease were worth $41,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Air Lease by 21.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock valued at $2,443,000 after purchasing an additional 9,056 shares in the last quarter. Millennium Management LLC lifted its holdings in Air Lease by 1,675.1% during the 1st quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock worth $9,855,000 after buying an additional 192,508 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Air Lease by 493.5% in the 1st quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock valued at $429,000 after buying an additional 7,387 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Air Lease by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock valued at $15,784,000 after buying an additional 15,629 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Air Lease by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock valued at $14,410,000 after buying an additional 41,912 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AL has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Air Lease Price Performance

Shares of AL stock opened at $64.64 on Friday. The firm’s 50 day moving average price is $64.60 and its two-hundred day moving average price is $64.10. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.96. The stock has a market cap of $7.24 billion, a PE ratio of 6.94, a PEG ratio of 0.53 and a beta of 1.11.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.46 by $0.74. The company had revenue of $679.54 million during the quarter, compared to analysts’ expectations of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. As a group, analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio is presently 9.45%.

Air Lease Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.