Loomis Sayles & Co. L P grew its stake in Air Lease Co. (NYSE:AL - Free Report) by 23.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 498,833 shares of the transportation company's stock after purchasing an additional 95,006 shares during the quarter. Loomis Sayles & Co. L P owned about 0.45% of Air Lease worth $24,049,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Air Lease by 43.0% in 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 4th quarter valued at $31,414,000. American Century Companies Inc. lifted its holdings in shares of Air Lease by 13.7% during 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 buying an additional 389,070 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Air Lease by 32.1% in the 4th quarter. William Blair Investment Management LLC now owns 799,478 shares of the transportation company's stock worth $38,543,000 after buying an additional 194,189 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Air Lease by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,022,459 shares of the transportation company's stock worth $49,293,000 after acquiring an additional 131,453 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.
Analysts Set New Price Targets
AL has been the topic of several research reports. UBS Group set a $50.00 target price on Air Lease in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and lowered their target price for the company from $72.00 to $50.00 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, the company has an average rating of "Moderate Buy" and an average target price of $55.67.
Read Our Latest Research Report on AL
Air Lease Stock Up 2.7 %
Shares of AL traded up $1.33 during midday trading on Wednesday, hitting $49.78. 216,089 shares of the company's stock traded hands, compared to its average volume of 738,364. The firm's fifty day moving average is $47.01 and its 200-day moving average is $46.98. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth 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. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.
Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share 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%. As a group, sell-side analysts anticipate that Air Lease Co. will post 5.16 earnings per share for the current year.
Air Lease Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 1.77%. Air Lease's dividend payout ratio (DPR) is currently 26.43%.
Air Lease Company Profile
(
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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