Picton Mahoney Asset Management Has $400,000 Stock Position in Air Lease Co. (NYSE:AL)

Picton Mahoney Asset Management grew its holdings in shares of Air Lease Co. (NYSE:AL) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,435 shares of the transportation company’s stock after acquiring an additional 640 shares during the period. Picton Mahoney Asset Management’s holdings in Air Lease were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AL. Commonwealth Equity Services LLC boosted its stake in shares of Air Lease by 25.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,499 shares of the transportation company’s stock valued at $309,000 after purchasing an additional 1,319 shares during the last quarter. Principal Financial Group Inc. boosted its position in Air Lease by 42.6% during the second quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after acquiring an additional 227,274 shares during the last quarter. Innealta Capital LLC grew its holdings in Air Lease by 41.8% during the 2nd quarter. Innealta Capital LLC now owns 5,737 shares of the transportation company’s stock worth $273,000 after acquiring an additional 1,692 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Air Lease by 149.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,034 shares of the transportation company’s stock worth $1,950,000 after acquiring an additional 24,608 shares in the last quarter. Finally, Cambiar Investors LLC lifted its stake in shares of Air Lease by 0.9% in the 2nd quarter. Cambiar Investors LLC now owns 146,549 shares of the transportation company’s stock valued at $6,965,000 after purchasing an additional 1,268 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Up 1.2 %

Shares of NYSE AL traded up $0.56 during midday trading on Friday, hitting $46.27. 450,388 shares of the stock traded hands, compared to its average volume of 821,804. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31. The business has a 50 day moving average price of $46.43 and a two-hundred day moving average price of $46.85. The company has a market cap of $5.15 billion, a PE ratio of 9.33, a P/E/G ratio of 1.00 and a beta of 1.59.

Air Lease (NYSE:AL) last issued its quarterly earnings data 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 business had revenue of $667.29 million for the quarter, compared to analyst estimates of $687.93 million. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. On average, equities analysts predict that Air Lease Co. will post 6.68 EPS for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 6th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, September 6th. This represents a $0.84 annualized dividend and a dividend yield of 1.82%. Air Lease’s payout ratio is 16.94%.

Analyst Upgrades and Downgrades

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