Huntington National Bank lowered its stake in Air Lease Corp (NYSE:AL) by 49.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,905 shares of the transportation company’s stock after selling 154,518 shares during the quarter. Huntington National Bank’s holdings in Air Lease were worth $4,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Citizens Financial Group Inc RI increased its holdings in shares of Air Lease by 65.0% in the 1st quarter. Citizens Financial Group Inc RI now owns 1,259 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 496 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Air Lease during the 2nd quarter worth $29,000. Ameritas Investment Company LLC acquired a new position in shares of Air Lease during the 1st quarter worth $50,000. Parallel Advisors LLC increased its stake in shares of Air Lease by 43.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,757 shares of the transportation company’s stock worth $51,000 after purchasing an additional 529 shares during the last quarter. Finally, Pearl River Capital LLC acquired a new position in shares of Air Lease during the 1st quarter worth $69,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AL traded down $0.48 during midday trading on Friday, reaching $26.22. 824,503 shares of the company’s stock were exchanged, compared to its average volume of 931,169. The company’s 50 day simple moving average is $28.79 and its two-hundred day simple moving average is $31.21. The firm has a market capitalization of $2.98 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 2.07 and a beta of 2.03. Air Lease Corp has a 12 month low of $8.41 and a 12 month high of $49.96. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.53 and a current ratio of 1.53.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.11). Air Lease had a return on equity of 10.60% and a net margin of 28.42%. The business had revenue of $511.39 million for the quarter, compared to the consensus estimate of $526.71 million. During the same period in the previous year, the business posted $1.67 earnings per share. Air Lease’s revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Air Lease Corp will post 4.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, June 4th. Air Lease’s dividend payout ratio is currently 11.79%.

Several research analysts have recently commented on AL shares. Credit Suisse Group restated a “buy” rating and set a $38.00 price target on shares of Air Lease in a research note on Friday, July 24th. Deutsche Bank decreased their price target on shares of Air Lease from $45.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, ValuEngine upgraded shares of Air Lease from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.40.

In other Air Lease news, Director Jie Chen sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $29.00, for a total value of $1,160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marshall O. Larsen acquired 5,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $24.36 per share, with a total value of $121,800.00. The disclosure for this purchase can be found here. Company insiders own 6.88% of the company’s stock.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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