Vanguard Group Inc. Has $426.68 Million Stock Position in Air Lease Co. (NYSE:AL)

Vanguard Group Inc. lifted its stake in Air Lease Co. (NYSE:AL) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,173,457 shares of the transportation company’s stock after acquiring an additional 12,920 shares during the quarter. Vanguard Group Inc. owned approximately 9.16% of Air Lease worth $426,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AL. Neo Ivy Capital Management acquired a new stake in shares of Air Lease in the third quarter valued at about $40,000. Hexagon Capital Partners LLC grew its holdings in Air Lease by 1,341.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock worth $53,000 after purchasing an additional 1,167 shares during the period. Principal Securities Inc. bought a new position in Air Lease during the fourth quarter worth about $77,000. SRS Capital Advisors Inc. grew its holdings in Air Lease by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock worth $103,000 after purchasing an additional 683 shares during the period. Finally, Orion Capital Management LLC bought a new position in Air Lease during the third quarter worth about $126,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AL. StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. TD Cowen reduced their price objective on Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Barclays boosted their price objective on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have assigned 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 target price of $53.80.

Air Lease Stock Down 0.6 %

NYSE AL opened at $47.86 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $52.31. The company has a 50 day moving average of $48.33 and a 200-day moving average of $45.18. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.91 and a beta of 1.62.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The business had revenue of $663.31 million during the quarter, compared to analyst estimates of $677.26 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Air Lease Co. will post 6.96 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.76%. Air Lease’s dividend payout ratio is currently 16.94%.

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.