Truist Financial Corp Has $15.29 Million Holdings in Air Lease Co. (NYSE:AL)

Truist Financial Corp lowered its stake in shares of Air Lease Co. (NYSE:AL) by 21.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 321,694 shares of the transportation company’s stock after selling 87,559 shares during the quarter. Truist Financial Corp’s holdings in Air Lease were worth $15,290,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in shares of Air Lease in the 2nd quarter valued at $29,000. Mather Group LLC. acquired a new stake in Air Lease during the 1st quarter worth approximately $31,000. Neo Ivy Capital Management lifted its stake 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 valued at $57,000 after buying an additional 330 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Air Lease by 108.1% in the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after buying an additional 624 shares during the period. Finally, Hilltop National Bank increased its position in shares of Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after acquiring an additional 448 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. 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 for the company. Finally, JPMorgan Chase & Co. cut their target price on 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Stock Performance

AL opened at $43.51 on Friday. The business’s 50-day simple moving average is $44.53 and its 200 day simple moving average is $47.11. Air Lease Co. has a 52-week low of $33.33 and a 52-week high of $52.31. 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 firm has a market capitalization of $4.85 billion, a PE ratio of 8.77, a PEG ratio of 1.01 and a beta of 1.59.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that Air Lease Co. will post 6.46 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, September 6th. Air Lease’s dividend payout ratio (DPR) is presently 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.