Air Lease Co. (NYSE:AL) Stock Position Raised by Cannell & Spears LLC

Cannell & Spears LLC grew its stake in shares of Air Lease Co. (NYSE:AL) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 597,598 shares of the transportation company’s stock after purchasing an additional 13,946 shares during the period. Cannell & Spears LLC owned about 0.54% of Air Lease worth $28,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Air Lease during the third quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new position in Air Lease in the 4th quarter worth approximately $31,000. Brown Brothers Harriman & Co. grew its position 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 purchasing an additional 1,049 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake 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 valued at $57,000 after purchasing an additional 1,115 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Air Lease by 679.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AL shares. JPMorgan Chase & Co. lifted their price target on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. UBS Group set a $50.00 target price on Air Lease in a research note on Friday, March 7th. Finally, Bank of America lowered shares of Air Lease from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Air Lease Stock Down 1.5 %

AL opened at $48.32 on Monday. The company has a market capitalization of $5.40 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.60. The business has a 50-day moving average of $46.96 and a 200-day moving average of $46.90. Air Lease Co. has a fifty-two week low of $39.43 and a fifty-two week high of $52.31. 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 (NYSE:AL) last issued its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Equities research analysts forecast that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s payout ratio is 26.43%.

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.