T. Rowe Price Investment Management Inc. raised its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 83.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 782,189 shares of the transportation company's stock after purchasing an additional 356,127 shares during the period. T. Rowe Price Investment Management Inc. owned 0.70% of Air Lease worth $37,710,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Air Lease by 104.6% during the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock valued at $3,897,000 after purchasing an additional 43,981 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Air Lease during the 3rd quarter valued at about $31,000. Principal Financial Group Inc. raised its position in shares of Air Lease by 9.2% during the 3rd quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company's stock worth $37,591,000 after buying an additional 69,887 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Air Lease by 23.6% in the 4th quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company's stock worth $111,000 after acquiring an additional 441 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Air Lease by 1.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 162,685 shares of the transportation company's stock valued at $7,843,000 after acquiring an additional 1,558 shares in the last quarter. Institutional investors own 94.59% of the company's stock.
Air Lease Stock Performance
AL opened at $45.84 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. The firm has a market cap of $5.12 billion, a PE ratio of 13.77, a P/E/G ratio of 1.33 and a beta of 1.34. The business has a fifty day simple moving average of $45.58 and a 200-day simple moving average of $46.75. Air Lease Co. has a fifty-two week low of $38.25 and a fifty-two week high of $52.31.
Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. As a group, equities analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.
Air Lease Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.92%. Air Lease's dividend payout ratio is currently 26.43%.
Analyst Ratings Changes
Several equities research analysts recently commented on AL shares. JPMorgan Chase & Co. boosted their target price on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. UBS Group set a $50.00 price objective on Air Lease in a research note on Friday, March 7th. Finally, Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and decreased their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.67.
View Our Latest Analysis on AL
About Air Lease
(
Free Report)
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.
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