Air Lease Co. (NYSE:AL) Shares Sold by Nuveen Asset Management LLC

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

Several other institutional investors and hedge funds have also made changes to their positions in AL. Norges Bank purchased a new position in Air Lease in the 4th quarter valued at about $49,415,000. Allspring Global Investments Holdings LLC lifted its holdings in Air Lease by 43.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock valued at $134,332,000 after purchasing an additional 842,780 shares in the last quarter. Capital Research Global Investors lifted 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 purchasing an additional 690,000 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Air Lease in the 4th quarter valued at about $31,414,000. Finally, American Century Companies Inc. lifted its holdings in 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 purchasing an additional 389,070 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Air Lease

In other Air Lease 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 completion of the transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.64% of the company's stock.

Air Lease Stock Up 2.6%

Shares of AL traded up $1.46 during midday trading on Tuesday, hitting $58.33. The company had a trading volume of 932,573 shares, compared to its average volume of 783,213. The company's 50 day moving average price is $48.44 and its 200 day moving average price is $48.05. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.33 and a beta of 1.33. Air Lease Co. has a 52 week low of $38.25 and a 52 week high of $59.27. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68.

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, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.51%. 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

A number of research analysts have issued reports on the stock. Bank of America lowered 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 report on Friday, March 7th. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and upped their target price for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. UBS Group set a $50.00 price objective on shares of Air Lease in a research note on Friday, March 7th. Finally, Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

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.