Dana Investment Advisors Inc. Lowers Holdings in Air Lease Co. (NYSE:AL)

Dana Investment Advisors Inc. trimmed its position in shares of Air Lease Co. (NYSE:AL) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 82,213 shares of the transportation company’s stock after selling 2,142 shares during the period. Dana Investment Advisors Inc.’s holdings in Air Lease were worth $3,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Air Lease by 23.6% in the 1st 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 in the last quarter. Wellington Management Group LLP lifted its position in Air Lease by 44.3% during the fourth quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock valued at $192,260,000 after purchasing an additional 1,407,902 shares during the period. Principal Financial Group Inc. boosted its holdings 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 during the last quarter. Artemis Investment Management LLP purchased a new stake in Air Lease in the second quarter worth approximately $22,339,000. Finally, Earnest Partners LLC grew its position in Air Lease by 19.4% in 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 during the period. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AL shares. 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 price objective on shares of 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 assumed coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Trading Down 2.4 %

Shares of NYSE:AL opened at $44.20 on Wednesday. The stock has a 50 day moving average of $44.92 and a 200 day moving average of $47.21. The company has a market cap of $4.92 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.01 and a beta of 1.59. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69.

Air Lease (NYSE:AL) last announced 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 firm had revenue of $667.29 million during the quarter, compared to analysts’ expectations of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. As a group, equities research analysts expect that Air Lease Co. will post 6.46 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders 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 dividend on an annualized basis and a yield of 1.90%. Air Lease’s dividend payout ratio is presently 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.