Creative Planning Boosts Stock Position in Air Lease Co. (NYSE:AL)

Creative Planning lifted its position in Air Lease Co. (NYSE:AL) by 23.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,885 shares of the transportation company’s stock after purchasing an additional 1,698 shares during the quarter. Creative Planning’s holdings in Air Lease were worth $422,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 2,404,649 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Air Lease by 459.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock worth $2,198,000 after purchasing an additional 37,207 shares during the period. BW Gestao de Investimentos Ltda. purchased a new position in shares of Air Lease during the 1st quarter valued at approximately $5,144,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Air Lease by 240.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock valued at $7,119,000 after purchasing an additional 97,703 shares during the period. Finally, Texas Permanent School Fund Corp purchased a new stake in Air Lease during the first quarter worth $4,649,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

AL has been the topic of a number of recent analyst reports. Barclays decreased their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen assumed 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 for the company. Finally, JPMorgan Chase & Co. decreased their price target 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and an average target price of $54.75.

Air Lease Stock Down 1.4 %

Shares of AL opened at $43.79 on Wednesday. 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 stock has a market capitalization of $4.88 billion, a PE ratio of 8.83, a P/E/G ratio of 1.29 and a beta of 1.59. The company’s 50-day simple moving average is $44.22 and its 200-day simple moving average is $46.81. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31.

Air Lease (NYSE:AL) last released its earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The firm had revenue of $667.29 million for the quarter, compared to analysts’ expectations of $687.93 million. Analysts forecast that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. Air Lease’s dividend payout ratio (DPR) is presently 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.