FIL Ltd Has $728,000 Stake in Air Lease Co. (NYSE:AL)

FIL Ltd lowered its position in Air Lease Co. (NYSE:AL) by 81.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,099 shares of the transportation company’s stock after selling 64,892 shares during the period. FIL Ltd’s holdings in Air Lease were worth $728,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AL. Norges Bank bought a new position in Air Lease in the 4th quarter valued at about $49,415,000. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $134,332,000 after acquiring an additional 842,780 shares in the last quarter. Raymond James Financial Inc. bought a new position in Air Lease in the 4th quarter valued at $31,414,000. American Century Companies Inc. boosted its holdings in shares of 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 buying an additional 389,070 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Air Lease by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company’s stock worth $259,574,000 after acquiring an additional 362,585 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AL has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Finally, Bank of America lowered shares of Air Lease from a “buy” rating to an “underperform” rating and lowered their price target for the company from $72.00 to $50.00 in a research report 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Air Lease Price Performance

NYSE AL opened at $41.07 on Monday. Air Lease Co. has a one year low of $38.25 and a one year high of $52.31. The stock has a 50-day moving average of $46.36 and a 200 day moving average of $46.82. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.33 and a beta of 1.34.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, March 18th. Air Lease’s payout ratio is 26.43%.

Air Lease Company 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.