Air Lease Corporation (NYSE:AL) is Royce & Associates LP's Largest Position

Royce & Associates LP lowered its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,068,218 shares of the transportation company's stock after selling 389,115 shares during the quarter. Air Lease makes up about 1.1% of Royce & Associates LP's holdings, making the stock its largest holding. Royce & Associates LP owned 1.85% of Air Lease worth $99,916,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Air Lease in the fourth quarter valued at approximately $49,415,000. Capital Research Global Investors increased its stake in Air Lease by 50.7% during the fourth 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 last quarter. Raymond James Financial Inc. acquired a new stake in Air Lease during the fourth quarter worth $31,414,000. Allspring Global Investments Holdings LLC increased its stake in Air Lease by 19.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after acquiring an additional 553,080 shares during the last quarter. Finally, Waverton Investment Management Ltd acquired a new stake in Air Lease during the first quarter worth $18,312,000. Institutional investors and hedge funds own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AL. Citigroup raised 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 research note on Tuesday, May 20th. Barclays reissued an "overweight" rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research note 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.29.

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction on 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 in the company, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.64% of the company's stock.

Air Lease Trading Up 0.8%

Shares of AL traded up $0.47 during midday trading on Friday, hitting $58.12. 669,656 shares of the stock were exchanged, compared to its average volume of 645,638. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $60.41. The stock has a fifty day simple moving average of $57.71 and a 200 day simple moving average of $50.65. The firm has a market cap of $6.50 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.62 and a beta of 1.35. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly 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. The business had revenue of $738.28 million during 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%. The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. On average, research analysts anticipate 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 was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

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.