Allspring Global Investments Holdings LLC Increases Position in Air Lease Co. (NYSE:AL)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Air Lease Co. (NYSE:AL) by 43.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,800,723 shares of the transportation company’s stock after acquiring an additional 842,780 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Air Lease were worth $134,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AL. Creative Planning raised its stake in shares of Air Lease by 23.6% during the 2nd quarter. Creative Planning now owns 8,885 shares of the transportation company’s stock worth $422,000 after purchasing an additional 1,698 shares during the period. GAMMA Investing LLC boosted its stake in Air Lease by 55.5% in the third quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock valued at $85,000 after acquiring an additional 667 shares during the last quarter. Raymond James & Associates grew its position in shares of Air Lease by 12.4% during the 3rd quarter. Raymond James & Associates now owns 459,018 shares of the transportation company’s stock valued at $20,789,000 after acquiring an additional 50,675 shares during the period. Everence Capital Management Inc. increased its stake in shares of Air Lease by 174.1% during the 3rd quarter. Everence Capital Management Inc. now owns 14,200 shares of the transportation company’s stock worth $643,000 after purchasing an additional 9,020 shares during the last quarter. Finally, Copeland Capital Management LLC raised its holdings in shares of Air Lease by 0.7% in the 3rd quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after purchasing an additional 12,441 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Air Lease Stock Down 0.5 %

Air Lease stock opened at $45.76 on Wednesday. The firm has a 50 day simple moving average of $47.62 and a 200 day simple moving average of $46.25. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a 1-year low of $39.35 and a 1-year high of $52.31. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.00 and a beta of 1.59.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.60.

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.