Allspring Global Investments Holdings LLC Reduces Stock Position in Air Lease Co. (NYSE:AL)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Air Lease Co. (NYSE:AL - Free Report) by 7.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,957,943 shares of the transportation company's stock after selling 161,618 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.76% of Air Lease worth $88,675,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company's stock valued at $647,018,000 after purchasing an additional 2,404,649 shares during the period. Principal Financial Group Inc. increased its position in shares of Air Lease by 8,069.3% during the first quarter. Principal Financial Group Inc. now owns 532,886 shares of the transportation company's stock valued at $27,412,000 after buying an additional 526,363 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Air Lease during the second quarter valued at about $22,339,000. Earnest Partners LLC lifted its holdings in shares of Air Lease by 19.4% in the first quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company's stock worth $108,724,000 after buying an additional 343,360 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Air Lease by 239.9% in the first quarter. Boston Partners now owns 307,657 shares of the transportation company's stock valued at $15,827,000 after acquiring an additional 217,153 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Air Lease from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, August 5th. TD Cowen assumed coverage on Air Lease in a research report on Monday, July 29th. They issued a "buy" rating and a $58.00 price objective on the stock. Finally, Barclays reduced their target price on Air Lease from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of "Moderate Buy" and a consensus target price of $54.75.

Air Lease Price Performance

AL stock traded down $0.67 during midday trading on Monday, reaching $43.97. The company had a trading volume of 672,588 shares, compared to its average volume of 987,127. The firm has a 50-day moving average price of $44.35 and a 200-day moving average price of $46.69. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market capitalization of $4.90 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.29 and a beta of 1.59. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The firm had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. On average, research analysts anticipate that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, September 6th. Air Lease's dividend payout ratio is currently 16.94%.

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.