State of Tennessee Department of Treasury Decreases Stock Holdings in Air Lease Co. (NYSE:AL)

State of Tennessee Department of Treasury cut its holdings in Air Lease Co. (NYSE:AL - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,057 shares of the transportation company's stock after selling 7,934 shares during the quarter. State of Tennessee Department of Treasury's holdings in Air Lease were worth $1,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AL. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 362,585 shares in the last quarter. American Century Companies Inc. increased its position in Air Lease by 13.7% during 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 buying an additional 389,070 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 buying an additional 842,780 shares during the last quarter. Capital Research Global Investors boosted its holdings in 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 worth $98,830,000 after acquiring an additional 690,000 shares in the last quarter. Finally, Reinhart Partners LLC. grew its stake in shares of Air Lease by 2.7% during the fourth quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company's stock worth $76,451,000 after acquiring an additional 42,034 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Air Lease Stock Performance

AL traded up $2.62 during midday trading on Tuesday, hitting $51.38. 509,583 shares of the company were exchanged, compared to its average volume of 765,544. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company's 50 day simple moving average is $45.39 and its 200 day simple moving average is $46.90. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 1-year low of $38.25 and a 1-year high of $52.31.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. As a group, sell-side analysts predict that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.71%. Air Lease's dividend payout ratio is currently 26.43%.

Analyst Ratings Changes

Several analysts have weighed in on AL shares. JPMorgan Chase & Co. boosted their target price 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. UBS Group set a $50.00 price objective on shares of Air Lease in a report on Friday, March 7th. Finally, Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Air Lease currently has an average rating of "Moderate Buy" and a consensus price target of $55.67.

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.