Verdence Capital Advisors LLC Makes New $379,000 Investment in Air Lease Co. (NYSE:AL)

Verdence Capital Advisors LLC bought a new position in shares of Air Lease Co. (NYSE:AL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,852 shares of the transportation company's stock, valued at approximately $379,000.

A number of other large investors also recently bought and sold shares of AL. State Street Corp boosted its stake in shares of Air Lease by 0.8% in the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company's stock valued at $155,180,000 after purchasing an additional 25,874 shares during the period. Royce & Associates LP increased its position in shares of Air Lease by 2.5% during the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company's stock worth $130,232,000 after acquiring an additional 70,299 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Air Lease by 43.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock valued at $134,332,000 after acquiring an additional 842,780 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Air Lease by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company's stock valued at $73,858,000 after purchasing an additional 6,190 shares during the period. Finally, Reinhart Partners LLC. grew its stake in Air Lease by 2.7% during the 4th quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company's stock worth $76,451,000 after purchasing an additional 42,034 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

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Air Lease Stock Performance

Shares of AL traded down $2.52 during mid-day trading on Monday, reaching $43.38. 1,232,333 shares of the company's stock were exchanged, compared to its average volume of 695,023. The business's fifty day simple moving average is $47.04 and its 200-day simple moving average is $46.65. The stock has a market capitalization of $4.83 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.60. Air Lease Co. has a 52-week low of $39.43 and a 52-week high of $52.31. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. On average, equities research analysts expect that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Tuesday, March 18th. Air Lease's payout ratio is currently 26.43%.

Analyst Ratings Changes

A number of brokerages have recently commented on AL. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and lowered their price objective for the stock from $72.00 to $50.00 in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. UBS Group set a $50.00 target price on Air Lease in a report on Friday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.67.

Air Lease Company 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.