Rhumbline Advisers Has $12.34 Million Stock Holdings in Air Lease Co. (NYSE:AL)

Rhumbline Advisers raised its holdings in shares of Air Lease Co. (NYSE:AL) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,016 shares of the transportation company’s stock after purchasing an additional 1,938 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Air Lease worth $12,342,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AL. Allspring Global Investments Holdings LLC lifted its holdings in Air Lease by 43.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock valued at $134,332,000 after purchasing an additional 842,780 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in Air Lease during the 3rd quarter valued at $18,289,000. Highland Peak Capital LLC acquired a new stake in Air Lease during the 3rd quarter valued at $7,066,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Air Lease by 109.0% during the third quarter. Harbor Capital Advisors Inc. now owns 161,127 shares of the transportation company’s stock worth $7,297,000 after buying an additional 84,016 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Air Lease by 2.5% during the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after buying an additional 70,299 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Down 5.9 %

Shares of NYSE AL opened at $47.65 on Monday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. Air Lease Co. has a 52 week low of $39.39 and a 52 week high of $52.31. The stock has a market capitalization of $5.31 billion, a P/E ratio of 14.31, a PEG ratio of 1.18 and a beta of 1.59. The stock’s fifty day moving average is $47.42 and its 200 day moving average is $46.46.

Air Lease (NYSE:AL) last issued 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%. Sell-side analysts forecast that Air Lease Co. will post 6.17 earnings per share for the current fiscal year.

Air Lease Announces Dividend

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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s dividend payout ratio is presently 26.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AL shares. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.50.

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.