Bank of New York Mellon Corp Increases Stake in Air Lease Co. (NYSE:AL)

Bank of New York Mellon Corp raised its holdings in shares of Air Lease Co. (NYSE:AL) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,022,459 shares of the transportation company’s stock after buying an additional 131,453 shares during the period. Bank of New York Mellon Corp owned about 0.92% of Air Lease worth $49,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BCGM Wealth Management LLC lifted its holdings in Air Lease by 9.5% during the fourth quarter. BCGM Wealth Management LLC now owns 45,931 shares of the transportation company’s stock valued at $2,214,000 after purchasing an additional 3,997 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in shares of Air Lease during the 4th quarter worth approximately $209,000. Private Advisor Group LLC boosted its holdings in shares of Air Lease by 30.5% in the 4th quarter. Private Advisor Group LLC now owns 9,130 shares of the transportation company’s stock worth $440,000 after purchasing an additional 2,134 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Air Lease by 2,018.9% in the 4th quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company’s stock worth $108,000 after purchasing an additional 2,140 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Air Lease by 21.4% in the fourth quarter. CIBC Asset Management Inc now owns 10,451 shares of the transportation company’s stock worth $504,000 after buying an additional 1,842 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Up 3.7 %

Air Lease stock opened at $46.83 on Thursday. The business has a fifty day moving average of $47.22 and a two-hundred day moving average of $46.62. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a twelve month low of $39.43 and a twelve month high of $52.31. The firm has a market cap of $5.22 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.33 and a beta of 1.59.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s dividend payout ratio is currently 26.43%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.50.

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.