Raymond James & Associates grew its holdings in shares of Air Lease Co. (NYSE:AL - Free Report) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 459,018 shares of the transportation company's stock after purchasing an additional 50,675 shares during the quarter. Raymond James & Associates owned approximately 0.41% of Air Lease worth $20,789,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in AL. Vanguard Group Inc. lifted its stake in Air Lease by 23.6% in the first 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 last quarter. American Century Companies Inc. lifted its position in shares of Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company's stock valued at $115,673,000 after buying an additional 115,293 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company's stock worth $107,859,000 after acquiring an additional 155,665 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Air Lease by 5.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company's stock worth $100,743,000 after acquiring an additional 101,568 shares during the last quarter. Finally, Reinhart Partners LLC. increased its holdings in Air Lease by 6.8% in the 3rd quarter. Reinhart Partners LLC. now owns 1,543,756 shares of the transportation company's stock worth $69,917,000 after acquiring an additional 98,755 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.
Air Lease Price Performance
Shares of Air Lease stock traded up $0.34 on Friday, reaching $44.59. The stock had a trading volume of 518,049 shares, compared to its average volume of 978,229. The business's 50 day moving average is $44.37 and its two-hundred day moving average is $46.50. The company has a market cap of $4.97 billion, a P/E ratio of 8.99, a price-to-earnings-growth 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. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69.
Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.41). The firm had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. As a group, research analysts anticipate that Air Lease Co. will post 4.83 EPS for the current year.
Air Lease Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 6th. Air Lease's dividend payout ratio is currently 16.94%.
Analyst Ratings Changes
A number of equities analysts have weighed in on AL shares. Barclays cut their target price on shares of Air Lease from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a "buy" rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on Air Lease from $54.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.75.
View Our Latest 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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