Sequoia Financial Advisors LLC Grows Stock Holdings in Air Lease Co. (NYSE:AL)

Sequoia Financial Advisors LLC raised its position in Air Lease Co. (NYSE:AL) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,683 shares of the transportation company’s stock after acquiring an additional 3,992 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Air Lease were worth $3,118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in shares of Air Lease by 0.8% in the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock valued at $155,180,000 after acquiring an additional 25,874 shares during the period. Royce & Associates LP increased its position in shares of Air Lease by 2.5% in the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock valued at $130,232,000 after acquiring an additional 70,299 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Air Lease by 43.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock valued at $134,332,000 after acquiring an additional 842,780 shares during the period. Geode Capital Management LLC increased its position in shares of Air Lease by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock valued at $73,858,000 after acquiring an additional 6,190 shares during the period. Finally, Reinhart Partners LLC. increased its position in shares of Air Lease by 2.7% in the fourth quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company’s stock valued at $76,451,000 after acquiring an additional 42,034 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AL. UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and reduced their price target for the company from $72.00 to $50.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average target price of $55.67.

Air Lease Trading Up 0.4 %

Shares of NYSE AL opened at $44.48 on Friday. The firm’s 50 day moving average price is $46.78 and its 200-day moving average price is $46.61. The company has a market cap of $4.95 billion, a PE ratio of 13.36, a P/E/G ratio of 1.33 and a beta of 1.60. Air Lease Co. has a 52-week low of $39.43 and a 52-week high of $52.31. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37.

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

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.98%. Air Lease’s dividend payout ratio is presently 26.43%.

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.