Rhumbline Advisers Has $11.92 Million Position in Air Lease Co. (NYSE:AL)

Rhumbline Advisers lowered its position in Air Lease Co. (NYSE:AL - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,697 shares of the transportation company's stock after selling 9,319 shares during the period. Rhumbline Advisers owned approximately 0.22% of Air Lease worth $11,918,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AL. Barclays PLC boosted its position in shares of Air Lease by 104.6% in the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock worth $3,897,000 after acquiring an additional 43,981 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Air Lease by 1,980.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,292 shares of the transportation company's stock valued at $689,000 after buying an additional 13,605 shares during the period. Burns Matteson Capital Management LLC purchased a new position in shares of Air Lease in the fourth quarter valued at $405,000. Allspring Global Investments Holdings LLC grew its stake in shares of Air Lease by 43.0% during 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. Finally, Stanley Laman Group Ltd. increased its position in shares of Air Lease by 1.8% during the fourth quarter. Stanley Laman Group Ltd. now owns 91,754 shares of the transportation company's stock worth $4,423,000 after acquiring an additional 1,645 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AL. Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $72.00 to $50.00 in a report on Friday, March 7th. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, Air Lease presently has an average rating of "Moderate Buy" and an average target price of $57.43.

Air Lease Stock Performance

AL traded up $0.25 on Wednesday, hitting $57.68. 647,874 shares of the company's stock were exchanged, compared to its average volume of 790,596. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The stock has a fifty day moving average of $50.48 and a two-hundred day moving average of $48.72. Air Lease Co. has a twelve month low of $38.25 and a twelve month high of $59.27. The firm has a market cap of $6.45 billion, a PE ratio of 17.32, a P/E/G ratio of 1.33 and a beta of 1.36.

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

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is 15.38%.

Insider Buying and Selling at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president now directly owns 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.64% of the stock is owned by corporate insiders.

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.