Victory Capital Management Inc. Has $2.54 Million Stock Position in Air Lease Co. (NYSE:AL)

Victory Capital Management Inc. grew its position in Air Lease Co. (NYSE:AL) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,500 shares of the transportation company’s stock after acquiring an additional 3,178 shares during the quarter. Victory Capital Management Inc.’s holdings in Air Lease were worth $2,543,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AL. Vanguard Group Inc. lifted its position in Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Air Lease by 44.3% during the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock worth $192,260,000 after acquiring an additional 1,407,902 shares during the period. Lyrical Asset Management LP boosted its position in shares of Air Lease by 0.6% during the 4th quarter. Lyrical Asset Management LP now owns 2,169,309 shares of the transportation company’s stock valued at $90,981,000 after acquiring an additional 12,735 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Air Lease by 5.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after acquiring an additional 101,568 shares during the period. Finally, Earnest Partners LLC raised its position in Air Lease by 19.4% in the first quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock worth $108,724,000 after purchasing an additional 343,360 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

AL has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Barclays decreased their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, TD Cowen began coverage on Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.75.

Air Lease Stock Performance

NYSE AL opened at $44.19 on Wednesday. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $52.31. The company has a 50 day moving average of $45.52 and a 200-day moving average of $47.11. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.91 and a beta of 1.59.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The business had revenue of $667.29 million for the quarter, compared to the consensus estimate of $687.93 million. On average, equities analysts forecast that Air Lease Co. will post 6.68 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 6th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. Air Lease’s dividend payout ratio is 16.94%.

Air Lease 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.