Covestor Ltd Lowers Position in Air Lease Co. (NYSE:AL)

Covestor Ltd trimmed its position in shares of Air Lease Co. (NYSE:AL) by 18.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,927 shares of the transportation company’s stock after selling 1,125 shares during the period. Covestor Ltd’s holdings in Air Lease were worth $223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its position in Air Lease by 1.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after acquiring an additional 291 shares during the period. CWM LLC increased its stake in shares of Air Lease by 16.5% during the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 440 shares in the last quarter. Hilltop National Bank lifted its holdings 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 valued at $84,000 after purchasing an additional 448 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Air Lease by 6.6% in the 3rd quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock worth $434,000 after purchasing an additional 597 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Air Lease in the 3rd quarter worth approximately $27,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Air Lease Stock Performance

Shares of AL opened at $47.09 on Friday. Air Lease Co. has a 12 month low of $36.37 and a 12 month high of $52.31. The business’s fifty day simple moving average is $44.38 and its two-hundred day simple moving average is $46.26. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 1.41 and a beta of 1.59.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The company had revenue of $690.16 million for the quarter, compared to analysts’ expectations of $681.71 million. Research analysts anticipate that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.87%. Air Lease’s payout ratio is currently 17.99%.

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.