Wellington Management Group LLP Sells 186,160 Shares of Air Lease Co. (NYSE:AL)

Wellington Management Group LLP decreased its position in Air Lease Co. (NYSE:AL - Free Report) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,021,645 shares of the transportation company's stock after selling 186,160 shares during the quarter. Wellington Management Group LLP owned approximately 4.51% of Air Lease worth $227,430,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in Air Lease by 0.8% during the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company's stock worth $155,180,000 after acquiring an additional 25,874 shares during the period. Royce & Associates LP increased its position in Air Lease by 2.5% during the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company's stock worth $130,232,000 after acquiring an additional 70,299 shares during the period. American Century Companies Inc. increased its position in Air Lease by 5.0% during the second quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company's stock worth $115,673,000 after acquiring an additional 115,293 shares during the period. Earnest Partners LLC increased its position in Air Lease by 7.4% during the second 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. Finally, Allspring Global Investments Holdings LLC increased its position in Air Lease by 5.0% during the second 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 period. Institutional investors own 94.59% of the company's stock.

Analyst Ratings Changes

AL has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reiterated a "buy" rating and set a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.60.

Air Lease Stock Up 0.4 %

AL stock traded up $0.19 during mid-day trading on Monday, hitting $50.22. 653,973 shares of the company were exchanged, compared to its average volume of 941,058. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $5.59 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.55 and a beta of 1.61. The firm's 50 day simple moving average is $46.64 and its 200 day simple moving average is $46.22. Air Lease Co. has a 1-year low of $38.92 and a 1-year high of $52.31.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.22 per share. This is an increase from Air Lease's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease's dividend payout ratio (DPR) is 19.13%.

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.