Nuveen Asset Management LLC Sells 16,567 Shares of Air Lease Co. (NYSE:AL)

Nuveen Asset Management LLC reduced its stake in shares of Air Lease Co. (NYSE:AL - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 359,865 shares of the transportation company's stock after selling 16,567 shares during the period. Nuveen Asset Management LLC owned approximately 0.32% of Air Lease worth $17,349,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Air Lease by 7.2% in 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 purchasing an additional 362,585 shares during the last quarter. American Century Companies Inc. boosted its position 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. Allspring Global Investments Holdings LLC boosted its position in shares of Air Lease by 43.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock valued at $134,332,000 after acquiring an additional 842,780 shares during the period. Earnest Partners LLC boosted its position in shares of Air Lease by 0.4% in 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 period. Finally, Capital Research Global Investors boosted its position 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 acquiring an additional 690,000 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.64% of the stock is currently owned by company insiders.

Air Lease Price Performance

NYSE AL traded up $0.07 during trading on Thursday, hitting $58.00. 150,342 shares of the company's stock were exchanged, compared to its average volume of 782,891. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The company has a market cap of $6.48 billion, a PE ratio of 17.41, a P/E/G ratio of 1.33 and a beta of 1.33. Air Lease Co. has a fifty-two week low of $38.25 and a fifty-two week high of $59.27. The stock's 50 day moving average price is $48.88 and its two-hundred day moving average price is $48.19.

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 8.01% and a net margin of 15.65%. The firm had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business's quarterly revenue was up 11.3% on a year-over-year basis. Research analysts expect that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's payout ratio is presently 15.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AL. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and reduced their target price for the company from $72.00 to $50.00 in a research report on Friday, March 7th. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. One equities 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, the stock presently has an average rating of "Moderate Buy" and an average price target 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.