PNC Financial Services Group Inc. Has $519,000 Holdings in Air Lease Co. (NYSE:AL)

PNC Financial Services Group Inc. cut its stake in shares of Air Lease Co. (NYSE:AL) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,372 shares of the transportation company’s stock after selling 2,013 shares during the period. PNC Financial Services Group Inc.’s holdings in Air Lease were worth $519,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AL. Neo Ivy Capital Management acquired a new position in shares of Air Lease during the third quarter worth $40,000. Hexagon Capital Partners LLC increased its holdings in Air Lease by 1,341.4% in 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 during the period. Principal Securities Inc. acquired a new stake in Air Lease in the fourth quarter valued at $77,000. SRS Capital Advisors Inc. increased its holdings in Air Lease by 38.6% in 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 during the period. Finally, Orion Capital Management LLC acquired a new stake in Air Lease in the third quarter valued at $126,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of recent research reports. Barclays increased their price objective on Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. TD Cowen decreased their price objective on Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.80.

Air Lease Stock Performance

Shares of Air Lease stock opened at $47.96 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. The business has a 50-day moving average price of $48.32 and a two-hundred day moving average price of $45.20. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $52.31. The company has a market cap of $5.34 billion, a P/E ratio of 9.67, a PEG ratio of 0.91 and a beta of 1.62.

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

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.75%. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

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.