Russell Investments Group Ltd. Has $13.39 Million Stock Position in Air Lease Co. (NYSE:AL)

Posted by on May 12th, 2023

Russell Investments Group Ltd. raised its position in shares of Air Lease Co. (NYSE:AL – Get Rating) by 105.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,526 shares of the transportation company’s stock after purchasing an additional 178,935 shares during the period. Russell Investments Group Ltd. owned approximately 0.31% of Air Lease worth $13,390,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Air Lease by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,553,426 shares of the transportation company’s stock worth $203,226,000 after buying an additional 169,304 shares in the last quarter. Bfsg LLC bought a new stake in shares of Air Lease in the fourth quarter worth $758,000. Copeland Capital Management LLC grew its stake in shares of Air Lease by 14.0% in the fourth quarter. Copeland Capital Management LLC now owns 1,484,478 shares of the transportation company’s stock worth $57,034,000 after purchasing an additional 182,354 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Air Lease by 1.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,386,556 shares of the transportation company’s stock worth $91,691,000 after purchasing an additional 25,944 shares during the last quarter. Finally, Sepio Capital LP bought a new stake in shares of Air Lease in the fourth quarter worth $242,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. The Goldman Sachs Group initiated coverage on shares of Air Lease in a research report on Tuesday, February 28th. They set a “buy” rating and a $59.00 price target on the stock. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 price target on shares of Air Lease in a research report on Friday, February 17th.

Air Lease Stock Performance

Shares of AL opened at $38.17 on Friday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 0.56 and a beta of 1.77. The firm’s fifty day simple moving average is $38.84 and its two-hundred day simple moving average is $39.58. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.88. Air Lease Co. has a 12 month low of $29.75 and a 12 month high of $46.20.

Air Lease (NYSE:AL – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The transportation company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.16. The company had revenue of $601.61 million for the quarter, compared to analysts’ expectations of $598.62 million. Air Lease had a net margin of 21.25% and a return on equity of 7.60%. As a group, analysts predict that Air Lease Co. will post 4.77 EPS for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Tuesday, June 6th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.10%. Air Lease’s dividend payout ratio (DPR) is presently 19.42%.

About Air Lease

(Get Rating)

Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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