Marshall Wace LLP Purchases New Stake in Air Lease Co. (NYSE:AL)

Marshall Wace LLP acquired a new position in shares of Air Lease Co. (NYSE:AL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,646 shares of the transportation company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AL. Vanguard Group Inc. lifted its position in shares of Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares in the last quarter. Wellington Management Group LLP lifted its position in Air Lease by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock worth $192,260,000 after buying an additional 1,407,902 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after buying an additional 115,293 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Air Lease by 5.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after buying an additional 101,568 shares during the period. Finally, Earnest Partners LLC grew its holdings in shares of Air Lease by 19.4% during the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock valued at $108,724,000 after acquiring an additional 343,360 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AL shares. Barclays reduced their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Air Lease Stock Performance

NYSE:AL opened at $43.45 on Friday. The firm has a market capitalization of $4.84 billion, a PE ratio of 8.76, a PEG ratio of 1.29 and a beta of 1.59. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The firm’s fifty day simple moving average is $44.12 and its 200 day simple moving average is $46.94.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The business had revenue of $667.29 million during the quarter, compared to analyst estimates of $687.93 million. On average, sell-side analysts anticipate that Air Lease Co. will post 4.83 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

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.