KLP Kapitalforvaltning AS Invests $1.06 Million in Air Lease Co. (NYSE:AL)

KLP Kapitalforvaltning AS acquired a new position in Air Lease Co. (NYSE:AL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,800 shares of the transportation company's stock, valued at approximately $1,055,000.

Several other hedge funds have also recently bought and sold shares of AL. SBI Securities Co. Ltd. bought a new position in shares of Air Lease in the fourth quarter valued at approximately $31,000. Raymond James Financial Inc. bought a new position in Air Lease in the 4th quarter worth $31,414,000. Charles Schwab Investment Management Inc. lifted its position in Air Lease by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,221 shares of the transportation company's stock worth $50,508,000 after acquiring an additional 36,596 shares during the last quarter. Barclays PLC boosted its holdings in Air Lease by 104.6% during the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock valued at $3,897,000 after acquiring an additional 43,981 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Air Lease by 9.2% in the third quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company's stock valued at $37,591,000 after purchasing an additional 69,887 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, UBS Group set a $50.00 price objective on shares of Air Lease in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of "Moderate Buy" and an average price target of $55.67.

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Air Lease Stock Performance

AL traded down $3.13 on Friday, hitting $42.00. 1,698,793 shares of the stock traded hands, compared to its average volume of 744,160. The business has a fifty day moving average price of $46.93 and a two-hundred day moving average price of $46.97. 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 capitalization of $4.69 billion, a PE ratio of 12.61, a P/E/G ratio of 1.33 and a beta of 1.60. Air Lease Co. has a 52 week low of $39.43 and a 52 week high of $52.31.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data 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%. On average, research analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Tuesday, March 18th. Air Lease's payout ratio is 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.