Allspring Global Investments Holdings LLC Has $162.49 Million Position in Air Lease Corporation (NYSE:AL)

Allspring Global Investments Holdings LLC lifted its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 19.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,353,803 shares of the transportation company's stock after buying an additional 553,080 shares during the quarter. Allspring Global Investments Holdings LLC owned about 3.00% of Air Lease worth $162,492,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AL. Norges Bank bought a new position in Air Lease during the 4th quarter worth $49,415,000. Capital Research Global Investors increased its stake in Air Lease by 50.7% during the 4th 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 during the period. Raymond James Financial Inc. bought a new position in Air Lease during the 4th quarter worth $31,414,000. American Century Companies Inc. increased its stake in Air Lease by 13.7% during the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock worth $155,570,000 after acquiring an additional 389,070 shares during the period. Finally, Waverton Investment Management Ltd bought a new position in Air Lease during the 1st quarter worth $18,312,000. Institutional investors own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AL shares. UBS Group set a $50.00 price objective on Air Lease in a research note on Friday, March 7th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and decreased their price target for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.43.

Insider Activity at Air Lease

In related 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 sale, the executive vice president now owns 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.64% of the stock is currently owned by company insiders.

Air Lease Price Performance

Shares of AL traded up $0.66 during midday trading on Friday, hitting $58.70. The company's stock had a trading volume of 1,043,472 shares, compared to its average volume of 786,709. Air Lease Corporation has a one year low of $38.25 and a one year high of $59.27. The company's fifty day simple moving average is $54.37 and its two-hundred day simple moving average is $49.29. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36.

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

Air Lease Announces Dividend

The company also recently disclosed 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 1.50%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is 15.38%.

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.