Everence Capital Management Inc. Acquires 9,020 Shares of Air Lease Co. (NYSE:AL)

Everence Capital Management Inc. boosted its holdings in Air Lease Co. (NYSE:AL) by 174.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,200 shares of the transportation company’s stock after buying an additional 9,020 shares during the period. Everence Capital Management Inc.’s holdings in Air Lease were worth $643,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Air Lease by 12.4% in the 3rd quarter. Raymond James & Associates now owns 459,018 shares of the transportation company’s stock worth $20,789,000 after buying an additional 50,675 shares during the period. Creative Planning increased its position in Air Lease by 16.5% in the 3rd quarter. Creative Planning now owns 10,349 shares of the transportation company’s stock worth $469,000 after buying an additional 1,464 shares during the period. Reinhart Partners LLC. increased its position in Air Lease by 6.8% in the 3rd quarter. Reinhart Partners LLC. now owns 1,543,756 shares of the transportation company’s stock worth $69,917,000 after buying an additional 98,755 shares during the period. MBM Wealth Consultants LLC grew its holdings in shares of Air Lease by 9.1% during the 3rd quarter. MBM Wealth Consultants LLC now owns 13,156 shares of the transportation company’s stock worth $596,000 after purchasing an additional 1,093 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in shares of Air Lease by 6.6% during the 3rd quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock worth $434,000 after purchasing an additional 597 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Price Performance

AL stock traded down $0.12 during trading on Monday, hitting $44.52. The company had a trading volume of 116,458 shares, compared to its average volume of 984,387. The company has a fifty day moving average price of $44.35 and a two-hundred day moving average price of $46.69. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The company has a market cap of $4.96 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.29 and a beta of 1.59. Air Lease Co. has a fifty-two week low of $33.33 and a fifty-two week high of $52.31.

Air Lease (NYSE:AL) last announced 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). The company had revenue of $667.29 million during 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%. Equities research analysts expect that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, September 6th. Air Lease’s dividend payout ratio is currently 16.94%.

Wall Street Analyst Weigh In

AL has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. TD Cowen initiated coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective on the stock. Finally, Barclays decreased their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.