Air Lease Corporation (NYSE:AL) Stake Boosted by Cooke & Bieler LP

Cooke & Bieler LP increased its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,265,254 shares of the transportation company's stock after purchasing an additional 63,870 shares during the period. Cooke & Bieler LP owned 1.13% of Air Lease worth $61,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Air Lease by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock valued at $259,574,000 after acquiring an additional 362,585 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Air Lease by 19.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock valued at $162,492,000 after acquiring an additional 553,080 shares during the last quarter. American Century Companies Inc. increased its position in shares of Air Lease by 13.7% during 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 acquiring an additional 389,070 shares during the last quarter. Earnest Partners LLC increased its position in shares of Air Lease by 0.4% during the fourth quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock valued at $124,282,000 after acquiring an additional 9,809 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake 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 valued at $98,830,000 after purchasing an additional 690,000 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction that occurred on 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 owned 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company's stock.

Air Lease Trading Down 1.3%

Shares of Air Lease stock traded down $0.77 during mid-day trading on Friday, hitting $57.54. 588,989 shares of the stock were exchanged, compared to its average volume of 781,098. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.62 and a beta of 1.35. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $60.41. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53. The company has a 50-day simple moving average of $57.63 and a 200 day simple moving average of $50.34.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The business had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. During the same period in the prior year, the firm posted $0.87 EPS. The company's revenue was up 11.3% on a year-over-year basis. Research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.53%. Air Lease's payout ratio is 15.38%.

Analysts Set New Price Targets

AL has been the subject of a number of recent research reports. Barclays reiterated an "overweight" rating and issued a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.29.

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.