New Age Alpha Advisors LLC Makes New $686,000 Investment in Air Lease Co. (NYSE:AL)

New Age Alpha Advisors LLC acquired a new stake in Air Lease Co. (NYSE:AL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,234 shares of the transportation company’s stock, valued at approximately $686,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Air Lease in the fourth quarter worth about $49,415,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Air Lease by 43.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after buying an additional 842,780 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Air Lease during the 4th quarter worth approximately $31,414,000. American Century Companies Inc. boosted its stake in Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company’s stock valued at $155,570,000 after buying an additional 389,070 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Air Lease by 32.1% in the fourth quarter. William Blair Investment Management LLC now owns 799,478 shares of the transportation company’s stock valued at $38,543,000 after acquiring an additional 194,189 shares during the period. 94.59% of the stock is owned by institutional investors.

Air Lease Trading Up 0.3 %

AL opened at $48.36 on Tuesday. Air Lease Co. has a 1-year low of $39.43 and a 1-year high of $52.31. The stock has a market capitalization of $5.40 billion, a PE ratio of 14.52, a PEG ratio of 1.33 and a beta of 1.60. 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 firm has a 50-day moving average price of $46.99 and a two-hundred day moving average price of $46.94.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share 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%. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. Air Lease’s payout ratio is 26.43%.

Analyst Ratings Changes

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

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.