Hahn Capital Management LLC Lowers Stock Position in Air Lease Co. (NYSE:AL)

Hahn Capital Management LLC lowered its position in shares of Air Lease Co. (NYSE:AL) by 28.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,272 shares of the transportation company’s stock after selling 37,198 shares during the quarter. Air Lease comprises approximately 2.8% of Hahn Capital Management LLC’s portfolio, making the stock its 21st biggest position. Hahn Capital Management LLC owned 0.08% of Air Lease worth $4,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AL. Eastern Bank purchased a new position in Air Lease during the third quarter valued at $27,000. Altshuler Shaham Ltd purchased a new position in Air Lease during the second quarter valued at $29,000. GAMMA Investing LLC lifted its position in Air Lease by 108.1% during the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after buying an additional 624 shares during the period. Hilltop National Bank lifted its position in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after buying an additional 448 shares during the period. Finally, Monetary Management Group Inc. purchased a new position in shares of Air Lease in the 2nd quarter worth about $95,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

AL has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Barclays lowered their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen initiated coverage on Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average target price of $54.75.

Air Lease Price Performance

NYSE AL opened at $44.28 on Friday. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31. The stock has a 50-day moving average of $44.37 and a 200 day moving average of $46.56. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.29 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The business had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. On average, sell-side analysts forecast that Air Lease Co. will post 4.83 EPS for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.84 annualized dividend and a yield of 1.90%. Air Lease’s payout ratio is 16.94%.

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.