Air Lease Co. (NYSE:AL) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its holdings in shares of Air Lease Co. (NYSE:AL) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,558 shares of the transportation company’s stock after purchasing an additional 3,074 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Air Lease were worth $4,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Air Lease by 296.1% during the 3rd quarter. CWM LLC now owns 911 shares of the transportation company’s stock valued at $36,000 after buying an additional 681 shares during the period. Copeland Capital Management LLC increased its stake in Air Lease by 0.3% during the third quarter. Copeland Capital Management LLC now owns 1,706,579 shares of the transportation company’s stock worth $67,256,000 after acquiring an additional 4,715 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Air Lease by 1.4% in the 3rd quarter. Raymond James & Associates now owns 362,943 shares of the transportation company’s stock worth $14,304,000 after purchasing an additional 4,971 shares during the period. Reinhart Partners LLC. raised its stake in shares of Air Lease by 3.5% in the 3rd quarter. Reinhart Partners LLC. now owns 1,258,240 shares of the transportation company’s stock valued at $49,587,000 after acquiring an additional 42,157 shares during the period. Finally, Redmont Wealth Advisors LLC raised its position in Air Lease by 8.8% in the third quarter. Redmont Wealth Advisors LLC now owns 13,833 shares of the transportation company’s stock valued at $545,000 after purchasing an additional 1,118 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 0.8 %

Shares of NYSE:AL opened at $51.40 on Thursday. The firm has a market cap of $5.72 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.65. The company has a fifty day simple moving average of $46.07 and a 200 day simple moving average of $41.56. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $51.77.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.79. The company had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. On average, equities research analysts anticipate that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s payout ratio is currently 16.31%.

Wall Street Analysts Forecast Growth

AL has been the subject of several recent research reports. Barclays increased their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets raised their price target on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, StockNews.com lowered Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Insider Buying and Selling at Air Lease

In other news, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares in the company, valued at approximately $2,884,361.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John L. Plueger sold 19,095 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total value of $768,955.65. Following the completion of the sale, the chief executive officer now owns 859,153 shares in the company, valued at $34,598,091.31. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock worth $3,705,152 over the last quarter. 6.64% of the stock is owned by corporate insiders.

Air Lease 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.