Cannell & Spears LLC Has $28.81 Million Stake in Air Lease Co. (NYSE:AL)

Cannell & Spears LLC grew its holdings in Air Lease Co. (NYSE:AL) by 2.4% during the 4th quarter, HoldingsChannel reports. The firm owned 597,598 shares of the transportation company’s stock after acquiring an additional 13,946 shares during the quarter. Cannell & Spears LLC’s holdings in Air Lease were worth $28,810,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Air Lease by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company’s stock valued at $259,574,000 after purchasing an additional 362,585 shares during the period. State Street Corp boosted its position in shares of Air Lease by 0.8% in the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock valued at $155,180,000 after acquiring an additional 25,874 shares during the period. American Century Companies Inc. grew its stake in shares of Air Lease by 13.7% in the fourth quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company’s stock worth $155,570,000 after acquiring an additional 389,070 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Air Lease by 43.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after acquiring an additional 842,780 shares during the period. Finally, Geode Capital Management LLC raised its stake in Air Lease by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock valued at $73,858,000 after purchasing an additional 6,190 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Bank of America lowered Air Lease from a “buy” rating to an “underperform” rating and lowered their price target for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, UBS Group set a $50.00 price objective on Air Lease in a research report on Friday, March 7th. One 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 company has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Air Lease Trading Down 1.5 %

AL stock opened at $48.32 on Monday. Air Lease Co. has a 1-year low of $39.43 and a 1-year high of $52.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The business’s 50 day moving average is $46.96 and its 200-day moving average is $46.90. The firm has a market cap of $5.40 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.33 and a beta of 1.60.

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

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be issued 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 dividend payout ratio is currently 26.43%.

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.