Zweig DiMenna Associates LLC Sells 40,000 Shares of Air Lease Co. (NYSE:AL)

Zweig DiMenna Associates LLC lowered its position in Air Lease Co. (NYSE:AL) by 66.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the transportation company’s stock after selling 40,000 shares during the period. Zweig DiMenna Associates LLC’s holdings in Air Lease were worth $906,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. GSA Capital Partners LLP grew its holdings in Air Lease by 1.2% during the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after purchasing an additional 217 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Air Lease by 1.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after purchasing an additional 291 shares during the period. CWM LLC grew its holdings in Air Lease by 16.5% during the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 440 shares during the period. Hilltop National Bank grew its holdings in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 448 shares during the period. Finally, Fulton Bank N.A. grew its holdings in Air Lease by 6.6% during the third quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 597 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

NYSE AL opened at $44.28 on Friday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. The business has a 50-day moving average price of $44.37 and a 200-day moving average price of $46.56. Air Lease Co. has a twelve month low of $33.33 and a twelve month high of $52.31.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, August 1st. The transportation company reported $1.15 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 predict that Air Lease Co. will post 4.83 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were given a $0.21 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. Air Lease’s dividend payout ratio is currently 16.94%.

Analyst Ratings Changes

AL has been the subject of several recent research reports. Barclays cut their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. TD Cowen began coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.