Bank of Montreal Can Increases Stock Position in Air Lease Co. (NYSE:AL)

Bank of Montreal Can increased its stake in shares of Air Lease Co. (NYSE:AL) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,018 shares of the transportation company’s stock after purchasing an additional 1,638 shares during the period. Bank of Montreal Can owned approximately 0.06% of Air Lease worth $3,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its stake in shares of Air Lease by 1.2% during the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after purchasing an additional 217 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Air Lease by 1.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after buying an additional 291 shares during the last quarter. Neo Ivy Capital Management raised its position in Air Lease by 32.4% in the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock worth $57,000 after acquiring an additional 330 shares during the period. Bank of Nova Scotia grew its position in shares of Air Lease by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 26,856 shares of the transportation company’s stock valued at $1,126,000 after acquiring an additional 414 shares during the period. Finally, CWM LLC increased its stake in shares of Air Lease by 16.5% in the 2nd quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Air Lease Stock Performance

NYSE:AL opened at $43.82 on Thursday. The stock has a 50-day moving average price of $44.83 and a 200 day moving average price of $47.19. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31. The stock has a market capitalization of $4.88 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.01 and a beta of 1.59.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The company had revenue of $667.29 million for the quarter, compared to analysts’ expectations of $687.93 million. Equities research analysts forecast that Air Lease Co. will post 6.46 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, September 6th. Air Lease’s payout ratio is currently 16.94%.

About Air Lease

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.