Air Lease Co. (NYSE:AL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in Air Lease Co. (NYSE:AL) by 32.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,812 shares of the transportation company’s stock after selling 50,111 shares during the quarter. Prudential Financial Inc.’s holdings in Air Lease were worth $4,957,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AL. SBI Securities Co. Ltd. acquired a new stake in Air Lease during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease during the third quarter worth approximately $31,000. Steward Partners Investment Advisory LLC raised its stake in shares of Air Lease by 1,506.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company’s stock worth $57,000 after purchasing an additional 1,115 shares during the last quarter. Jones Financial Companies Lllp grew its position in Air Lease by 679.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company’s stock valued at $72,000 after buying an additional 1,305 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Air Lease by 2,018.9% in the 4th quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company’s stock valued at $108,000 after buying an additional 2,140 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Trading Up 0.3 %

Shares of AL opened at $48.36 on Tuesday. Air Lease Co. has a twelve month low of $39.43 and a twelve month high of $52.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $5.40 billion, a P/E ratio of 14.52, a PEG ratio of 1.33 and a beta of 1.60. The firm’s 50-day moving average is $46.99 and its two-hundred day moving average is $46.94.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, research analysts predict that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. Air Lease’s payout ratio is 26.43%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AL. JPMorgan Chase & Co. lifted their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. UBS Group set a $50.00 price objective on Air Lease in a report on Friday, March 7th. Finally, Bank of America downgraded Air Lease from a “buy” rating to an “underperform” rating and cut their target price for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.67.

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.