Allspring Global Investments Holdings LLC Acquires 553,080 Shares of Air Lease Corporation (NYSE:AL)

Allspring Global Investments Holdings LLC raised its stake in Air Lease Corporation (NYSE:AL - Free Report) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Alpine Bank Wealth Management bought a new stake in Air Lease in the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Air Lease in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Air Lease in the fourth quarter valued at about $31,000. Versant Capital Management Inc boosted its position in shares of Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after buying an additional 348 shares during the period. Finally, Engine Capital Management LP acquired a new position in shares of Air Lease during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 94.59% of the company's stock.

Insider Activity

In related news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president owned 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.80% of the company's stock.

Air Lease Stock Performance

Shares of AL stock traded up $0.10 on Tuesday, reaching $58.59. The stock had a trading volume of 884,477 shares, compared to its average volume of 870,206. The firm's 50-day moving average is $54.71 and its two-hundred day moving average is $49.35. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 0.63 and a beta of 1.36. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $59.26.

Air Lease (NYSE:AL - Get Free Report) last issued its earnings results on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $709.70 million. During the same period in the previous year, the company posted $0.87 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio is presently 15.38%.

Wall Street Analysts Forecast Growth

AL has been the topic of several research reports. Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and cut their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, UBS Group set a $50.00 target price on Air Lease in a report on Friday, March 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $57.43.

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.