Resolute Capital Asset Partners LLC Grows Position in Air Lease Co. (NYSE:AL)

Resolute Capital Asset Partners LLC raised its position in Air Lease Co. (NYSE:AL) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the transportation company’s stock after acquiring an additional 5,000 shares during the quarter. Air Lease makes up about 2.0% of Resolute Capital Asset Partners LLC’s holdings, making the stock its 17th biggest holding. Resolute Capital Asset Partners LLC owned about 0.07% of Air Lease worth $3,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AL. First Eagle Investment Management LLC boosted its position in shares of Air Lease by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 363,787 shares of the transportation company’s stock worth $17,291,000 after acquiring an additional 3,600 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Air Lease by 8.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,508 shares of the transportation company’s stock valued at $547,000 after purchasing an additional 936 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Air Lease by 57.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 53,311 shares of the transportation company’s stock valued at $2,534,000 after purchasing an additional 19,557 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in Air Lease during the second quarter worth approximately $1,222,000. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of Air Lease during the 2nd quarter worth approximately $7,885,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Trading Up 0.7 %

Shares of Air Lease stock opened at $44.47 on Thursday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $4.95 billion, a P/E ratio of 8.97, a PEG ratio of 0.91 and a beta of 1.59. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The company’s fifty day moving average is $45.42 and its two-hundred day moving average is $47.12.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). The company had revenue of $667.29 million for the quarter, compared to analysts’ expectations of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. Analysts forecast that Air Lease Co. will post 6.68 earnings per share for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, September 6th. Air Lease’s payout ratio is currently 16.94%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. TD Cowen assumed coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. Finally, Barclays decreased their target price 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.