Bank of New York Mellon Corp Grows Stock Position in Air Lease Co. (NYSE:AL)

Bank of New York Mellon Corp grew its position in Air Lease Co. (NYSE:AL - Free Report) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,022,459 shares of the transportation company's stock after buying an additional 131,453 shares during the quarter. Bank of New York Mellon Corp owned 0.92% of Air Lease worth $49,293,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease during the 3rd quarter worth $31,000. Venturi Wealth Management LLC increased its position in Air Lease by 2,018.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company's stock valued at $108,000 after buying an additional 2,140 shares in the last quarter. GAMMA Investing LLC increased its position in Air Lease by 23.6% during the 4th quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company's stock valued at $111,000 after buying an additional 441 shares in the last quarter. Principal Securities Inc. increased its position in Air Lease by 11.6% during the 4th quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company's stock valued at $128,000 after buying an additional 276 shares in the last quarter. Finally, KBC Group NV increased its position in Air Lease by 20.0% during the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company's stock valued at $151,000 after buying an additional 557 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on AL. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and reduced their target price for the company from $72.00 to $50.00 in a research report on Friday. The Goldman Sachs Group reissued a "buy" rating and issued a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. increased their price objective on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.80.

Air Lease Stock Performance

Shares of AL stock traded down $0.42 during mid-day trading on Friday, reaching $45.88. The stock had a trading volume of 1,026,926 shares, compared to its average volume of 682,814. The business's fifty day moving average is $47.04 and its 200-day moving average is $46.64. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 13.78, a PEG 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.

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

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. Air Lease's dividend payout ratio is currently 26.43%.

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.