Air Lease Co. (NYSE:AL) Shares Acquired by Capital Research Global Investors

Capital Research Global Investors raised its stake in Air Lease Co. (NYSE:AL - Free Report) by 50.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,050,000 shares of the transportation company's stock after acquiring an additional 690,000 shares during the period. Capital Research Global Investors owned approximately 1.84% of Air Lease worth $98,830,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AL. Norges Bank purchased a new stake in shares of Air Lease during the 4th quarter valued at about $49,415,000. Allspring Global Investments Holdings LLC increased its stake in Air Lease by 43.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock worth $134,332,000 after acquiring an additional 842,780 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Air Lease during the fourth quarter valued at approximately $31,414,000. American Century Companies Inc. lifted its stake in shares of Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after purchasing an additional 389,070 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Air Lease by 7.2% in the 4th 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. Hedge funds and other institutional investors own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of analyst reports. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their price target 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, UBS Group set a $50.00 price target on shares of Air Lease in a report on Friday, March 7th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.67.

Air Lease Trading Up 0.5 %

AL stock traded up $0.25 during trading on Friday, hitting $45.84. The company had a trading volume of 894,228 shares, compared to its average volume of 826,026. The firm has a market capitalization of $5.12 billion, a P/E ratio of 13.77, a PEG 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. The company has a 50 day simple moving average of $45.67 and a 200-day simple moving average of $46.71.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) 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, research analysts forecast that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend 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 presently 26.43%.

Air Lease 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.