Air Lease Co. (NYSE:AL) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lessened its stake in shares of Air Lease Co. (NYSE:AL) by 81.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,201 shares of the transportation company’s stock after selling 5,114 shares during the period. Blue Trust Inc.’s holdings in Air Lease were worth $57,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position 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 acquiring an additional 2,404,649 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Air Lease in the 2nd quarter worth approximately $22,339,000. Earnest Partners LLC grew its position in Air Lease by 19.4% during the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock worth $108,724,000 after purchasing an additional 343,360 shares in the last quarter. Principal Financial Group Inc. raised its stake in Air Lease by 42.6% during the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after purchasing an additional 227,274 shares during the period. Finally, Boston Partners lifted its holdings in shares of Air Lease by 239.9% in the first quarter. Boston Partners now owns 307,657 shares of the transportation company’s stock valued at $15,827,000 after purchasing an additional 217,153 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AL. JPMorgan Chase & Co. lowered their price target on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Barclays lowered their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, TD Cowen started coverage on shares of Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Stock Performance

Shares of NYSE AL opened at $44.36 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. Air Lease Co. has a one year low of $33.58 and a one year high of $52.31. The business’s 50-day moving average price is $44.36 and its two-hundred day moving average price is $46.42. The company has a market capitalization of $4.94 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 1.29 and a beta of 1.59.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The firm had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. Analysts anticipate that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

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.