Air Lease Co. (NYSE:AL) Shares Sold by Valueworks LLC

Valueworks LLC lessened its position in Air Lease Co. (NYSE:AL - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,613 shares of the transportation company's stock after selling 15,310 shares during the period. Air Lease comprises 3.2% of Valueworks LLC's portfolio, making the stock its 15th largest holding. Valueworks LLC owned approximately 0.18% of Air Lease worth $9,527,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Air Lease in the fourth quarter valued at approximately $49,415,000. Allspring Global Investments Holdings LLC increased its position 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 worth $134,332,000 after acquiring an additional 842,780 shares in the last quarter. Capital Research Global Investors increased its position in shares of Air Lease by 50.7% in the fourth quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after acquiring an additional 690,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Air Lease in the fourth quarter worth $31,414,000. Finally, American Century Companies Inc. boosted its stake in shares of Air Lease by 13.7% in the fourth quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after purchasing an additional 389,070 shares during the period. Institutional investors and hedge funds own 94.59% of the company's stock.

Insiders Place Their Bets

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

Air Lease Trading Down 0.6%

NYSE AL opened at $57.09 on Tuesday. Air Lease Co. has a 12 month low of $38.25 and a 12 month high of $57.80. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company's fifty day moving average price is $47.36 and its two-hundred day moving average price is $47.67.

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

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Air Lease's dividend payout ratio (DPR) is 15.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AL. Bank of America downgraded shares of Air Lease from a "buy" rating to an "underperform" rating and decreased their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. UBS Group set a $50.00 target price on shares of Air Lease in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $55.67.

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.

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