Air Lease Co. (NYSE:AL) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Air Lease Co. (NYSE:AL) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 258,398 shares of the transportation company’s stock after purchasing an additional 3,159 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Air Lease worth $12,282,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in shares of Air Lease in the 2nd quarter valued at about $252,000. Picton Mahoney Asset Management increased its stake in Air Lease by 8.2% during the 2nd quarter. Picton Mahoney Asset Management now owns 8,435 shares of the transportation company’s stock valued at $400,000 after buying an additional 640 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Air Lease by 25.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,499 shares of the transportation company’s stock worth $309,000 after buying an additional 1,319 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Air Lease by 42.6% in the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock worth $36,130,000 after acquiring an additional 227,274 shares during the period. Finally, Innealta Capital LLC boosted its holdings in shares of Air Lease by 41.8% in the second quarter. Innealta Capital LLC now owns 5,737 shares of the transportation company’s stock valued at $273,000 after acquiring an additional 1,692 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Price Performance

Shares of NYSE:AL opened at $41.89 on Wednesday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $4.67 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 0.92 and a beta of 1.59. The stock has a fifty day moving average of $45.88 and a 200-day moving average of $47.02. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). The company had revenue of $667.29 million during the quarter, compared to analyst estimates of $687.93 million. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. As a group, equities analysts anticipate that Air Lease Co. will post 6.68 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. Air Lease’s dividend payout ratio (DPR) is currently 16.94%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays dropped their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Air Lease has a consensus rating of “Moderate Buy” and an average target price of $54.75.

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.