Air Lease Corporation (NYSE:AL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 402,396 shares of the transportation company's stock after selling 4,933 shares during the period. New York State Common Retirement Fund owned 0.36% of Air Lease worth $19,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its stake in 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 worth $259,574,000 after purchasing an additional 362,585 shares during the period. Allspring Global Investments Holdings LLC raised its stake in 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 worth $162,492,000 after purchasing an additional 553,080 shares during the period. American Century Companies Inc. raised its stake in 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 worth $155,570,000 after purchasing an additional 389,070 shares during the period. Earnest Partners LLC raised its stake in Air Lease by 0.4% during the fourth quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock worth $124,282,000 after purchasing an additional 9,809 shares during the period. Finally, Capital Research Global Investors raised its stake in Air Lease by 50.7% during the fourth quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after purchasing an additional 690,000 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

Air Lease Stock Down 1.3%

Air Lease stock traded down $0.77 during midday trading on Friday, hitting $57.54. 588,989 shares of the stock were exchanged, compared to its average volume of 781,567. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $60.41. The firm has a market cap of $6.43 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.63 and a beta of 1.35. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39. The company has a 50 day moving average price of $57.55 and a two-hundred day moving average price of $50.25.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) 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 firm had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

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

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 146,316 shares of the company's stock, valued at $8,318,064.60. This trade represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.64% of the stock is currently 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.