First Eagle Investment Management LLC Acquires 3,600 Shares of Air Lease Co. (NYSE:AL)

First Eagle Investment Management LLC increased its holdings in Air Lease Co. (NYSE:AL) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 363,787 shares of the transportation company’s stock after buying an additional 3,600 shares during the quarter. First Eagle Investment Management LLC owned 0.33% of Air Lease worth $17,291,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AL. Principal Securities Inc. bought a new stake in shares of Air Lease during the 4th quarter valued at $77,000. BNP Paribas Financial Markets increased its position in Air Lease by 812.8% in the fourth quarter. BNP Paribas Financial Markets now owns 25,740 shares of the transportation company’s stock worth $1,080,000 after buying an additional 22,920 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Air Lease by 6.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,492 shares of the transportation company’s stock worth $272,000 after buying an additional 404 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Air Lease by 75.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,775 shares of the transportation company’s stock valued at $494,000 after buying an additional 5,082 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Air Lease during the 4th quarter valued at approximately $42,482,000. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AL. Barclays decreased their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen started coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Trading Up 0.7 %

Shares of AL opened at $44.47 on Thursday. The firm has a market cap of $4.95 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The company has a 50 day simple moving average of $45.42 and a two-hundred day simple moving average of $47.12.

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

Air Lease Announces Dividend

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 issued a $0.21 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Air Lease’s dividend payout ratio (DPR) is 16.94%.

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.