Air Lease Co. (NYSE:AL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in Air Lease Co. (NYSE:AL) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,965,205 shares of the transportation company’s stock after selling 113,282 shares during the period. JPMorgan Chase & Co.’s holdings in Air Lease were worth $239,373,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Air Lease in the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Air Lease in the fourth quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC raised its stake in shares of Air Lease by 1,506.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company’s stock worth $57,000 after buying an additional 1,115 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Air Lease by 679.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company’s stock valued at $72,000 after buying an additional 1,305 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Air Lease by 2,018.9% in the 4th 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 during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

NYSE:AL opened at $48.36 on Tuesday. Air Lease Co. has a twelve month low of $39.43 and a twelve month high of $52.31. The company has a market cap of $5.40 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.33 and a beta of 1.60. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The company’s 50-day moving average price is $46.99 and its 200-day moving average price is $46.94.

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

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Tuesday, March 18th. Air Lease’s dividend payout ratio (DPR) is presently 26.43%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AL. UBS Group set a $50.00 price objective on shares of Air Lease in a report on Friday, March 7th. Bank of America lowered shares of Air Lease from a “buy” rating to an “underperform” rating and decreased their price target for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Lease has a consensus rating of “Moderate Buy” and an average price target of $55.67.

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.