MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 10,126 Shares of Air Lease Co. (NYSE:AL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 32.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,513 shares of the transportation company's stock after buying an additional 10,126 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Air Lease were worth $2,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AL. Aster Capital Management DIFC Ltd purchased a new position in Air Lease during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. purchased a new position in Air Lease during the fourth quarter valued at approximately $31,000. Engine Capital Management LP acquired a new position in Air Lease in the 4th quarter valued at approximately $36,000. Brown Brothers Harriman & Co. increased its stake in Air Lease by 5,245.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after buying an additional 1,049 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Air Lease by 1,506.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after buying an additional 1,115 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the transaction, the executive vice president now directly owns 146,316 shares in the company, valued at $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AL. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Air Lease from $56.00 to $57.00 and gave the company 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. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Finally, Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Air Lease presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

Air Lease Trading Up 2.8%

Air Lease stock traded up $1.57 during trading hours on Tuesday, reaching $58.44. 286,216 shares of the company's stock were exchanged, compared to its average volume of 887,087. The firm has a market capitalization of $6.53 billion, a PE ratio of 17.55, a PEG ratio of 1.33 and a beta of 1.33. Air Lease Co. has a twelve month low of $38.25 and a twelve month high of $59.26. The firm's 50 day simple moving average is $48.44 and its 200 day simple moving average is $48.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The firm had revenue of $738.28 million during the quarter, compared to analyst estimates of $709.70 million. During the same period last year, the firm posted $0.87 EPS. The business's revenue was up 11.3% compared to the same quarter last year. Research analysts predict that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, June 4th. Air Lease's dividend payout ratio is currently 15.38%.

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.