Handelsinvest Investeringsforvaltning Sells 2,596 Shares of Air Lease Co. (NYSE:AL)

Handelsinvest Investeringsforvaltning lowered its position in Air Lease Co. (NYSE:AL) by 34.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,000 shares of the transportation company’s stock after selling 2,596 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Air Lease were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Mather Group LLC. purchased a new position in Air Lease during the first quarter valued at $31,000. Neo Ivy Capital Management purchased a new position in Air Lease during the third quarter valued at $40,000. Hexagon Capital Partners LLC lifted its position in Air Lease by 1,341.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 1,167 shares in the last quarter. Principal Securities Inc. purchased a new position in Air Lease during the fourth quarter valued at $77,000. Finally, SRS Capital Advisors Inc. lifted its position in Air Lease by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 683 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AL shares. StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Barclays boosted their price objective on Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, TD Cowen reduced their target price on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Air Lease currently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Air Lease Trading Up 0.9 %

NYSE AL traded up $0.41 during trading hours on Wednesday, hitting $47.26. 6,991 shares of the company were exchanged, compared to its average volume of 1,129,649. The stock has a 50-day moving average price of $48.14 and a 200 day moving average price of $45.41. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 52 week low of $33.33 and a 52 week high of $52.31. The stock has a market cap of $5.26 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The company had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. Analysts forecast that Air Lease Co. will post 6.96 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.78%. Air Lease’s payout ratio is currently 16.94%.

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.