Redmont Wealth Advisors LLC Has $654,000 Stock Holdings in Air Lease Co. (NYSE:AL)

Redmont Wealth Advisors LLC increased its position in Air Lease Co. (NYSE:AL) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,599 shares of the transportation company’s stock after purchasing an additional 1,766 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Air Lease were worth $654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Capital Management LLC boosted its position in shares of Air Lease by 2.8% in the 3rd quarter. Janney Capital Management LLC now owns 10,343 shares of the transportation company’s stock worth $408,000 after purchasing an additional 281 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC grew its position in shares of Air Lease by 0.6% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 50,266 shares of the transportation company’s stock worth $1,981,000 after buying an additional 290 shares during the period. Citigroup Inc. increased its stake in shares of Air Lease by 3.5% in the 2nd quarter. Citigroup Inc. now owns 8,852 shares of the transportation company’s stock valued at $370,000 after acquiring an additional 302 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Air Lease by 3.3% in the 2nd quarter. Principal Financial Group Inc. now owns 10,761 shares of the transportation company’s stock valued at $360,000 after acquiring an additional 348 shares during the period. Finally, Quent Capital LLC boosted its stake in Air Lease by 10.4% during the 4th quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock worth $159,000 after acquiring an additional 358 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Performance

Shares of AL traded up $0.43 during trading hours on Friday, hitting $49.16. The company had a trading volume of 405,159 shares, compared to its average volume of 1,356,760. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.67 and a beta of 1.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68. The business has a fifty day moving average of $45.59 and a 200-day moving average of $41.25. Air Lease Co. has a 12 month low of $33.33 and a 12 month high of $51.77.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.10 by $0.79. The company had revenue of $716.57 million for the quarter, compared to the consensus estimate of $672.95 million. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities analysts anticipate that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s dividend payout ratio is currently 16.31%.

Insider Activity

In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the transaction, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at $2,884,361.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Kishore Korde sold 16,593 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the transaction, the executive vice president now directly owns 112,375 shares in the company, valued at approximately $4,461,287.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the sale, the executive vice president now directly owns 72,073 shares in the company, valued at approximately $2,884,361.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,646 shares of company stock valued at $3,705,152. 6.64% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on AL. BMO Capital Markets increased their price target on Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Barclays lifted their target price on Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

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.