Dana Investment Advisors Inc. Sells 2,142 Shares of Air Lease Co. (NYSE:AL)

Dana Investment Advisors Inc. reduced its stake in Air Lease Co. (NYSE:AL) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,213 shares of the transportation company’s stock after selling 2,142 shares during the period. Dana Investment Advisors Inc. owned about 0.07% of Air Lease worth $3,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after buying an additional 2,404,649 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Air Lease by 459.7% during the first quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock valued at $2,198,000 after acquiring an additional 37,207 shares during the last quarter. Park West Asset Management LLC purchased a new stake in shares of Air Lease during the fourth quarter worth about $3,775,000. BW Gestao de Investimentos Ltda. bought a new stake in shares of Air Lease in the first quarter worth about $5,144,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Air Lease by 240.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock valued at $7,119,000 after purchasing an additional 97,703 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Down 2.4 %

AL opened at $44.20 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 52 week low of $33.33 and a 52 week high of $52.31. The stock has a market cap of $4.92 billion, a PE ratio of 8.91, a PEG ratio of 1.01 and a beta of 1.59. The business has a 50 day moving average of $44.92 and a 200-day moving average of $47.21.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). The business had revenue of $667.29 million for the quarter, compared to the consensus estimate of $687.93 million. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. Equities research analysts predict that Air Lease Co. will post 6.46 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.84 annualized dividend and a dividend yield of 1.90%. Air Lease’s payout ratio is 16.94%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AL shares. Barclays dropped their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective 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. Finally, TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Air Lease has a consensus rating of “Moderate Buy” and an average target price of $54.75.

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.