Massachusetts Financial Services Co. MA Cuts Stock Holdings in Air Lease Corporation (NYSE:AL)

Massachusetts Financial Services Co. MA lowered its position in Air Lease Corporation (NYSE:AL - Free Report) by 2.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,076,681 shares of the transportation company's stock after selling 26,064 shares during the period. Massachusetts Financial Services Co. MA owned 0.96% of Air Lease worth $52,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Air Lease in the 4th quarter valued at approximately $49,415,000. Capital Research Global Investors grew its holdings in Air Lease by 50.7% in the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock valued at $98,830,000 after buying an additional 690,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Air Lease in the 4th quarter worth approximately $31,414,000. Allspring Global Investments Holdings LLC lifted its position in shares of Air Lease by 19.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after buying an additional 553,080 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after buying an additional 389,070 shares during the period. 94.59% of the stock is 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 dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value 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 approximately $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 accessible through this link. Insiders own 6.80% of the company's stock.

Air Lease Price Performance

NYSE:AL traded down $0.61 during mid-day trading on Monday, reaching $56.91. 501,748 shares of the stock were exchanged, compared to its average volume of 779,981. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $60.41. The firm has a market capitalization of $6.36 billion, a PE ratio of 9.95, a PEG ratio of 0.62 and a beta of 1.35. The business has a fifty day moving average price of $57.63 and a 200 day moving average price 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. The company had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. Air Lease's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. Research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, June 4th. Air Lease's payout ratio is presently 15.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays reissued an "overweight" rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has an average rating of "Moderate Buy" and an average target price 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.