PNC Financial Services Group Inc. Reduces Stock Holdings in Air Lease Co. (NYSE:AL)

PNC Financial Services Group Inc. reduced its holdings in Air Lease Co. (NYSE:AL) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,372 shares of the transportation company’s stock after selling 2,013 shares during the period. PNC Financial Services Group Inc.’s holdings in Air Lease were worth $519,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. 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 purchasing an additional 1,407,902 shares during the period. Neo Ivy Capital Management raised its position in shares of Air Lease by 32.4% in the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after buying an additional 330 shares during the last quarter. Park West Asset Management LLC acquired a new stake in shares of Air Lease in the fourth quarter valued at about $3,775,000. HST Ventures LLC grew its holdings in shares of Air Lease by 2.7% in the fourth quarter. HST Ventures LLC now owns 1,046,891 shares of the transportation company’s stock valued at $43,907,000 after purchasing an additional 27,316 shares during the period. Finally, Bridgefront Capital LLC purchased a new stake in shares of Air Lease in the fourth quarter valued at about $400,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AL shares. TD Cowen dropped their price objective on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Barclays upped their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Air Lease Trading Up 0.2 %

Shares of AL stock opened at $47.96 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market cap of $5.34 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. The company has a 50-day moving average of $48.32 and a two-hundred day moving average of $45.20. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $52.31.

Air Lease (NYSE:AL) last announced its earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The company had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. On average, analysts predict that Air Lease Co. will post 6.96 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. Air Lease’s dividend payout ratio is presently 16.94%.

Air Lease Company 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.