Air Lease Co. (NYSE:AL) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Air Lease Co. (NYSE:AL) by 5.0% during the second quarter, HoldingsChannel reports. The firm owned 2,119,561 shares of the transportation company’s stock after buying an additional 101,568 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Air Lease were worth $100,743,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AL. Bank of New York Mellon Corp increased its stake in shares of Air Lease by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 917,586 shares of the transportation company’s stock worth $43,613,000 after acquiring an additional 13,559 shares during the period. Raymond James Trust N.A. increased its stake in shares of Air Lease by 2.6% during the second quarter. Raymond James Trust N.A. now owns 28,711 shares of the transportation company’s stock worth $1,365,000 after acquiring an additional 722 shares during the period. LRI Investments LLC increased its stake in shares of Air Lease by 2,028.6% during the second quarter. LRI Investments LLC now owns 3,874 shares of the transportation company’s stock worth $184,000 after acquiring an additional 3,692 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Air Lease by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 52,100 shares of the transportation company’s stock worth $2,476,000 after acquiring an additional 1,000 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Air Lease during the second quarter worth about $791,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AL has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen started coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Air Lease Trading Down 0.7 %

Shares of AL opened at $45.57 on Tuesday. Air Lease Co. has a twelve month low of $33.33 and a twelve month high of $52.31. The firm has a market capitalization of $5.07 billion, a P/E ratio of 9.26, a PEG ratio of 1.03 and a beta of 1.59. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. The firm’s 50-day moving average is $46.50 and its two-hundred day moving average is $46.78.

Air Lease (NYSE:AL) last announced 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 9.03%. The business had revenue of $667.29 million during the quarter, compared to analysts’ expectations of $687.93 million. On average, research analysts predict that Air Lease Co. will post 6.68 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, September 6th. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

Air Lease Company 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.