Capital Research Global Investors Acquires 690,000 Shares of Air Lease Co. (NYSE:AL)

Capital Research Global Investors increased its position in Air Lease Co. (NYSE:AL) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,050,000 shares of the transportation company’s stock after buying an additional 690,000 shares during the period. Capital Research Global Investors’ holdings in Air Lease were worth $98,830,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AL. SBI Securities Co. Ltd. bought a new stake in shares of Air Lease in the fourth quarter valued at $31,000. Raymond James Financial Inc. purchased a new position in shares of Air Lease during the fourth quarter worth about $31,414,000. Barclays PLC increased its holdings in shares of Air Lease by 104.6% in the 3rd quarter. Barclays PLC now owns 86,033 shares of the transportation company’s stock worth $3,897,000 after buying an additional 43,981 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Air Lease by 9.2% during the 3rd quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company’s stock valued at $37,591,000 after buying an additional 69,887 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its holdings in shares of Air Lease by 2.7% during the 4th 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 owned by institutional investors and hedge funds.

Air Lease Stock Up 1.6 %

AL opened at $42.46 on Monday. The company has a market cap of $4.75 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.33 and a beta of 1.34. Air Lease Co. has a 12 month low of $38.25 and a 12 month high of $52.31. The business’s 50-day moving average price is $46.01 and its 200-day moving average price is $46.75. 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 (NYSE:AL) last announced its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, equities analysts expect that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Tuesday, March 18th. Air Lease’s dividend payout ratio (DPR) is presently 26.43%.

Analyst Ratings Changes

AL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $72.00 to $50.00 in a report on Friday, March 7th. Finally, UBS Group set a $50.00 target price on Air Lease in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.