Engine Capital Management LP Purchases New Position in Air Lease Co. (NYSE:AL)

Engine Capital Management LP acquired a new position in shares of Air Lease Co. (NYSE:AL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 750 shares of the transportation company’s stock, valued at approximately $36,000.

Several other large investors have also modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in Air Lease in the fourth quarter valued at $28,000. Wilmington Savings Fund Society FSB purchased a new position in Air Lease during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Air Lease during the fourth quarter worth approximately $31,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock valued at $52,000 after acquiring an additional 1,049 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Air Lease by 1,506.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 1,115 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on AL shares. UBS Group set a $50.00 target price on shares of Air Lease in a report on Friday, March 7th. JPMorgan Chase & Co. raised their price target on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. Finally, StockNews.com raised Air Lease from a “hold” rating to a “buy” rating in a report on Wednesday. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Air Lease Trading Down 0.3 %

Shares of AL stock opened at $53.59 on Friday. The business’s fifty day moving average price is $45.76 and its 200 day moving average price is $47.05. The firm has a market capitalization of $5.99 billion, a PE ratio of 16.09, a P/E/G ratio of 1.33 and a beta of 1.33. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. Air Lease Co. has a 1-year low of $38.25 and a 1-year high of $54.70.

Air Lease (NYSE:AL) last posted its quarterly earnings results 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 net margin of 15.65% and a return on equity of 8.01%. The business had revenue of $738.28 million for the quarter, compared to analysts’ expectations of $709.70 million. During the same period in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts forecast that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.64%. Air Lease’s dividend payout ratio (DPR) is presently 26.43%.

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.