Voloridge Investment Management LLC Buys 47,472 Shares of Air Lease Co. (NYSE:AL)

Voloridge Investment Management LLC boosted its holdings in Air Lease Co. (NYSE:AL - Free Report) by 37.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,589 shares of the transportation company's stock after purchasing an additional 47,472 shares during the period. Voloridge Investment Management LLC owned about 0.16% of Air Lease worth $8,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Air Lease during the fourth quarter worth $49,415,000. Allspring Global Investments Holdings LLC increased its holdings in Air Lease by 43.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock worth $134,332,000 after buying an additional 842,780 shares during the last quarter. Capital Research Global Investors increased its holdings 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 buying an additional 690,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Air Lease during the fourth quarter worth $31,414,000. Finally, American Century Companies Inc. increased its holdings in shares of Air Lease by 13.7% in the fourth 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 during the last quarter. Institutional investors own 94.59% of the company's stock.

Analysts Set New Price Targets

AL has been the topic of several research reports. Bank of America downgraded shares of Air Lease from a "buy" rating to an "underperform" rating and decreased their price objective 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 price objective for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. UBS Group set a $50.00 price objective on shares of Air Lease in a report on Friday, March 7th. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective 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. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

Air Lease Stock Performance

Shares of Air Lease stock traded down $0.63 during trading on Friday, reaching $57.58. The company's stock had a trading volume of 100,202 shares, compared to its average volume of 781,688. Air Lease Co. has a 52 week low of $38.25 and a 52 week high of $59.27. The business's 50-day moving average price is $49.05 and its 200-day moving average price is $48.25. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. The firm has a market cap of $6.44 billion, a PE ratio of 17.29, a P/E/G ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL - Get Free Report) last posted 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. 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 analysts' expectations of $709.70 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Air Lease's revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.53%. Air Lease's dividend payout ratio is 15.38%.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 10,000 shares of the 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 of the company's stock, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.64% of the stock is currently owned by company insiders.

About Air Lease

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.