Oppenheimer Asset Management Inc. Raises Stake in Air Lease Co. (NYSE:AL)

Oppenheimer Asset Management Inc. boosted its position in Air Lease Co. (NYSE:AL) by 57.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,311 shares of the transportation company’s stock after buying an additional 19,557 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Air Lease were worth $2,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in Air Lease by 1.2% in the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after buying an additional 217 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Air Lease by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after purchasing an additional 291 shares in the last quarter. Neo Ivy Capital Management boosted its position in Air Lease by 32.4% in the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock worth $57,000 after purchasing an additional 330 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Air Lease by 6.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,492 shares of the transportation company’s stock worth $272,000 after purchasing an additional 404 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in Air Lease by 1.6% in the 4th quarter. Bank of Nova Scotia now owns 26,856 shares of the transportation company’s stock worth $1,126,000 after purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Trading Up 0.4 %

Shares of AL stock opened at $44.19 on Wednesday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.91 and a beta of 1.59. The stock has a 50 day simple moving average of $45.52 and a 200-day simple moving average of $47.11. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $52.31.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.41). The business had revenue of $667.29 million for the quarter, compared to analyst estimates of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. On average, equities research analysts expect that Air Lease Co. will post 6.68 EPS for the current fiscal year.

Air Lease Dividend Announcement

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

Analysts Set New Price Targets

AL has been the topic of several recent research reports. 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 objective on the stock. Barclays lowered their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. One equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.