Peregrine Capital Management LLC Has $7.53 Million Position in Air Lease Co. (NYSE:AL)

Peregrine Capital Management LLC lowered its stake in shares of Air Lease Co. (NYSE:AL) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 158,337 shares of the transportation company’s stock after selling 548 shares during the period. Peregrine Capital Management LLC owned approximately 0.14% of Air Lease worth $7,526,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 2,404,649 shares in the last quarter. Wellington Management Group LLP raised its position in Air Lease by 44.3% in the fourth quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock worth $192,260,000 after purchasing an additional 1,407,902 shares in the last quarter. Norges Bank acquired a new position in Air Lease in the fourth quarter worth about $42,482,000. Principal Financial Group Inc. raised its position in Air Lease by 8,069.3% in the first quarter. Principal Financial Group Inc. now owns 532,886 shares of the transportation company’s stock worth $27,412,000 after purchasing an additional 526,363 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Air Lease during the second quarter worth approximately $22,339,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AL. JPMorgan Chase & Co. dropped their price objective on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Barclays dropped their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen began coverage on shares of Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.80.

Air Lease Price Performance

Shares of AL traded up $0.56 during mid-day trading on Friday, hitting $46.27. 450,388 shares of the company traded hands, compared to its average volume of 1,047,046. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31. 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 of $46.43 and a 200 day moving average of $46.81. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.03 and a beta of 1.59.

Air Lease (NYSE:AL) last released 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 9.03%. The company had revenue of $667.29 million for the quarter, compared to the consensus estimate of $687.93 million. As a group, equities analysts expect that Air Lease Co. will post 6.68 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th will be paid 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 1.82%. Air Lease’s dividend payout ratio (DPR) is currently 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.