Price T Rowe Associates Inc. MD Has $3.51 Million Stock Holdings in Air Lease Co. (NYSE:AL)

Price T Rowe Associates Inc. MD lessened its holdings in Air Lease Co. (NYSE:AL - Free Report) by 33.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,790 shares of the transportation company's stock after selling 36,454 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of Air Lease worth $3,510,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AL. Aster Capital Management DIFC Ltd acquired a new position in Air Lease during the 4th quarter worth $28,000. Wilmington Savings Fund Society FSB acquired a new position in Air Lease during the 3rd quarter worth $31,000. SBI Securities Co. Ltd. acquired a new position in Air Lease during the 4th quarter worth $31,000. Brown Brothers Harriman & Co. grew its holdings in Air Lease by 5,245.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Air Lease by 1,506.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after acquiring an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Wall Street Analysts Forecast Growth

AL has been the subject of several research reports. UBS Group set a $50.00 price target on shares of Air Lease in a report on Friday, March 7th. Bank of America downgraded shares of Air Lease from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target 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. Finally, StockNews.com raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.67.

Air Lease Price Performance

Shares of AL traded up $0.01 during trading hours on Friday, hitting $53.63. The stock had a trading volume of 1,251,314 shares, compared to its average volume of 767,713. The company's fifty day moving average is $45.93 and its two-hundred day moving average is $47.16. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. Air Lease Co. has a 52 week low of $38.25 and a 52 week high of $54.70. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 1.33 and a beta of 1.33.

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, beating 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 for the quarter, compared to analysts' expectations of $709.70 million. During the same period in the prior year, the firm earned $0.87 earnings per share. Air Lease's revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.64%. Air Lease's dividend payout ratio is 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.