Cwm LLC Reduces Position in Air Lease Corporation (NYSE:AL)

Cwm LLC decreased its holdings in Air Lease Corporation (NYSE:AL) by 11.0% in the first quarter, HoldingsChannel.com reports. The fund owned 1,974 shares of the transportation company’s stock after selling 245 shares during the period. Cwm LLC’s holdings in Air Lease were worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease during the first quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in Air Lease in the fourth quarter worth about $28,000. Engine Capital Management LP purchased a new position in Air Lease in the fourth quarter worth about $36,000. Versant Capital Management Inc boosted its position in Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after purchasing an additional 348 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Air Lease by 5,245.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock valued at $52,000 after buying an additional 1,049 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AL shares. Wall Street Zen raised Air Lease from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Barclays reissued an “overweight” rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Citigroup raised Air Lease from a “neutral” rating to a “buy” rating and boosted their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, Air Lease presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Insider Buying and Selling

In related news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the sale, the executive vice president directly owned 146,316 shares of the company’s stock, valued at $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.64% of the stock is currently owned by company insiders.

Air Lease Price Performance

Shares of AL stock opened at $56.18 on Thursday. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $60.41. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.62 and a beta of 1.35. The stock has a fifty day simple moving average of $57.70 and a two-hundred day simple moving average of $50.83. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm had revenue of $738.28 million during the quarter, compared to analysts’ expectations of $709.70 million. During the same period in the prior year, the business posted $0.87 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, June 4th. Air Lease’s dividend payout ratio is presently 15.38%.

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.