First Trust Advisors LP increased its position in Air Lease Co. (NYSE:AL - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 710,088 shares of the transportation company's stock after acquiring an additional 96,341 shares during the quarter. First Trust Advisors LP owned about 0.64% of Air Lease worth $34,233,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AL. Aster Capital Management DIFC Ltd bought a new position in shares of Air Lease in the fourth quarter worth $28,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease in the third quarter worth $31,000. SBI Securities Co. Ltd. bought a new stake in Air Lease during the fourth quarter valued at $31,000. Brown Brothers Harriman & Co. boosted its stake in 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 buying an additional 1,049 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position 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 buying an additional 1,115 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.
Air Lease Price Performance
Shares of NYSE AL traded up $0.43 during trading hours on Tuesday, reaching $46.67. 316,864 shares of the stock traded hands, compared to its average volume of 817,879. The company's 50-day simple moving average is $45.48 and its two-hundred day simple moving average is $46.80. The company has a market capitalization of $5.22 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $52.31. 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 (NYSE:AL - Get Free Report) last posted its quarterly 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 net margin of 15.65% and a return on equity of 8.01%. Equities research analysts forecast that Air Lease Co. will post 5.16 EPS for the current year.
Air Lease Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 1.89%. Air Lease's payout ratio is currently 26.43%.
Wall Street Analyst Weigh In
AL has been the subject of a number of research analyst reports. Bank of America downgraded 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. JPMorgan Chase & Co. lifted their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, UBS Group set a $50.00 price target on shares of Air Lease in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Air Lease presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.67.
Check Out 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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