Cannell & Spears LLC raised its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597,598 shares of the transportation company's stock after purchasing an additional 13,946 shares during the period. Cannell & Spears LLC owned 0.54% of Air Lease worth $28,810,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AL. Summit Financial LLC bought a new position in shares of Air Lease during the 4th quarter valued at about $214,000. Alliancebernstein L.P. lifted its position in shares of Air Lease by 1.9% during the 4th quarter. Alliancebernstein L.P. now owns 57,256 shares of the transportation company's stock valued at $2,760,000 after acquiring an additional 1,086 shares during the last quarter. AIA Group Ltd grew its holdings in shares of Air Lease by 6.6% in the 4th quarter. AIA Group Ltd now owns 31,838 shares of the transportation company's stock worth $1,535,000 after acquiring an additional 1,961 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Air Lease by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock worth $259,574,000 after purchasing an additional 362,585 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after acquiring an additional 1,049 shares during the period. 94.59% of the stock is owned by institutional investors.
Air Lease Price Performance
NYSE:AL traded down $3.33 on Friday, reaching $41.80. The stock had a trading volume of 667,781 shares, compared to its average volume of 741,289. 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 company has a market capitalization of $4.67 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.60. Air Lease Co. has a 1-year low of $39.43 and a 1-year high of $52.31. The stock has a fifty day moving average price of $47.03 and a 200-day moving average price of $46.99.
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, 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%. Research analysts forecast that Air Lease Co. will post 5.16 EPS for the current year.
Air Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.11%. Air Lease's payout ratio is 26.43%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on 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 shares of Air Lease in a research report on Friday, March 7th. Finally, Bank of America downgraded shares of Air Lease from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $72.00 to $50.00 in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.
Check Out Our Latest Stock Report on Air Lease
Air Lease Company Profile
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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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