California Public Employees Retirement System cut its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,142 shares of the transportation company's stock after selling 13,043 shares during the period. California Public Employees Retirement System owned 0.12% of Air Lease worth $6,322,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Air Lease in the 3rd quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new position in shares of Air Lease in the 4th quarter valued at $31,000. Brown Brothers Harriman & Co. grew its position in Air Lease by 5,245.0% in 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 last quarter. Steward Partners Investment Advisory LLC raised its stake in Air Lease by 1,506.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after acquiring an additional 1,115 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Air Lease by 679.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company's stock worth $72,000 after acquiring an additional 1,305 shares during the last quarter. 94.59% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
AL has been the subject of a number of recent research reports. UBS Group set a $50.00 target price on Air Lease in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and dropped their price target for the company from $72.00 to $50.00 in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.67.
Check Out Our Latest Research Report on Air Lease
Air Lease Stock Performance
AL traded up $0.35 during midday trading on Friday, hitting $41.07. 1,237,476 shares of the company traded hands, compared to its average volume of 756,831. The company's 50-day moving average is $46.36 and its 200 day moving average is $46.81. The firm has a market capitalization of $4.59 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 52 week low of $38.25 and a 52 week high of $52.31.
Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, beating 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 expect that Air Lease Co. will post 5.16 EPS for the current year.
Air Lease Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors 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 yield of 2.14%. Air Lease's payout ratio is 26.43%.
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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