Massachusetts Financial Services Co. MA lowered its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,102,745 shares of the transportation company's stock after selling 56,429 shares during the period. Massachusetts Financial Services Co. MA owned about 0.99% of Air Lease worth $53,163,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Air Lease during the fourth quarter valued at approximately $49,415,000. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $134,332,000 after acquiring an additional 842,780 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Air Lease during the 4th quarter valued at $31,414,000. American Century Companies Inc. raised its holdings in 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 worth $155,570,000 after purchasing an additional 389,070 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position 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. Institutional investors own 94.59% of the company's stock.
Air Lease Price Performance
NYSE AL opened at $42.00 on Friday. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.33 and a beta of 1.34. Air Lease Co. has a 1-year low of $39.43 and a 1-year high of $52.31. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The business's fifty day moving average price is $46.93 and its 200-day moving average price is $46.99.
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 (EPS) 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%. On average, equities analysts predict that Air Lease Co. will post 5.16 earnings per share for the current year.
Air Lease Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.10%. Air Lease's dividend payout ratio is currently 26.43%.
Analyst Ratings Changes
AL has been the topic of several research analyst reports. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and reduced their price target for the company from $72.00 to $50.00 in a research report on Friday, March 7th. UBS Group set a $50.00 price target on Air Lease in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.67.
Check Out Our Latest Research Report 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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