Harbor Capital Advisors Inc. Sells 26,968 Shares of Air Lease Corporation $AL

Harbor Capital Advisors Inc. reduced its holdings in shares of Air Lease Corporation (NYSE:AL) by 90.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,699 shares of the transportation company’s stock after selling 26,968 shares during the period. Harbor Capital Advisors Inc.’s holdings in Air Lease were worth $173,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AL. True Wealth Design LLC grew its stake in shares of Air Lease by 2,980.0% during the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares in the last quarter. Mather Group LLC. bought a new position in shares of Air Lease during the 3rd quarter worth approximately $29,000. First Horizon Corp bought a new position in shares of Air Lease during the 3rd quarter worth approximately $31,000. Nisa Investment Advisors LLC grew its stake in shares of Air Lease by 129.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after acquiring an additional 298 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of Air Lease by 75.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock worth $35,000 after acquiring an additional 234 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AL has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Barclays reissued an “equal weight” rating and issued a $65.00 price objective (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Finally, Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Air Lease Trading Up 0.0%

NYSE AL opened at $65.00 on Wednesday. The company has a market cap of $7.28 billion, a PE ratio of 6.98, a PEG ratio of 0.54 and a beta of 1.07. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $65.00. The stock has a 50 day moving average of $64.72 and a 200-day moving average of $64.20.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.46 by $0.74. The company had revenue of $679.54 million during the quarter, compared to the consensus estimate of $782.67 million. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, equities research analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is currently 9.45%.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale?and?leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.