Peregrine Capital Management LLC Lowers Stock Holdings in Air Lease Co. (NYSE:AL)

Peregrine Capital Management LLC cut its holdings in Air Lease Co. (NYSE:AL) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,944 shares of the transportation company’s stock after selling 5,210 shares during the quarter. Peregrine Capital Management LLC’s holdings in Air Lease were worth $6,940,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Eastern Bank purchased a new position in Air Lease in the 3rd quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Air Lease during the third quarter valued at approximately $31,000. Venturi Wealth Management LLC lifted its position in shares of Air Lease by 2,018.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company’s stock valued at $108,000 after acquiring an additional 2,140 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Air Lease by 23.6% in the fourth quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company’s stock valued at $111,000 after acquiring an additional 441 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Air Lease by 11.6% during the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock worth $128,000 after purchasing an additional 276 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.80.

Air Lease Stock Up 2.1 %

Shares of NYSE:AL opened at $50.49 on Wednesday. Air Lease Co. has a 52-week low of $39.35 and a 52-week high of $52.31. The stock has a market cap of $5.62 billion, a P/E ratio of 11.50, a PEG ratio of 1.00 and a beta of 1.59. The business has a fifty day moving average of $47.40 and a two-hundred day moving average of $46.29. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 19.58% and a return on equity of 8.92%. On average, research analysts expect that Air Lease Co. will post 4.65 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s 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.