Sequoia Financial Advisors LLC Has $2.75 Million Stock Holdings in Air Lease Co. (NYSE:AL)

Sequoia Financial Advisors LLC increased its position in Air Lease Co. (NYSE:AL) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,691 shares of the transportation company’s stock after purchasing an additional 1,044 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Air Lease were worth $2,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares during the period. American Century Companies Inc. grew its position in shares of Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after buying an additional 115,293 shares during the period. Earnest Partners LLC grew its position in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after buying an additional 155,665 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Air Lease by 5.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock worth $100,743,000 after buying an additional 101,568 shares during the period. Finally, Copeland Capital Management LLC grew its position in shares of Air Lease by 0.7% during the 3rd quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after buying an additional 12,441 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Air Lease Trading Down 0.7 %

NYSE AL opened at $43.95 on Thursday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.29 and a beta of 1.59. The stock’s 50 day moving average price is $44.39 and its two-hundred day moving average price is $46.58. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. Air Lease Co. has a 52 week low of $33.33 and a 52 week high of $52.31.

Air Lease (NYSE:AL) last posted its quarterly 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 analyst estimates of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. As a group, analysts anticipate that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, September 6th. Air Lease’s dividend payout ratio (DPR) is 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.