Brown Brothers Harriman & Co. Has $52,000 Stock Position in Air Lease Co. (NYSE:AL)

Brown Brothers Harriman & Co. increased its position in shares of Air Lease Co. (NYSE:AL) by 5,245.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,069 shares of the transportation company’s stock after acquiring an additional 1,049 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Air Lease were worth $52,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bank of Montreal Can boosted its position in Air Lease by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 70,984 shares of the transportation company’s stock worth $3,250,000 after acquiring an additional 966 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Air Lease by 6.0% in the third quarter. The Manufacturers Life Insurance Company now owns 24,665 shares of the transportation company’s stock worth $1,117,000 after purchasing an additional 1,390 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Air Lease by 12.6% during the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after purchasing an additional 389 shares during the period. Captrust Financial Advisors grew its position in Air Lease by 8.7% during the third quarter. Captrust Financial Advisors now owns 10,924 shares of the transportation company’s stock valued at $495,000 after purchasing an additional 877 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in Air Lease by 6.5% in the 3rd quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company’s stock valued at $829,000 after buying an additional 1,118 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

Shares of NYSE:AL opened at $50.02 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. The business has a 50 day moving average price of $47.07 and a 200 day moving average price of $47.00. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.33 and a beta of 1.60. Air Lease Co. has a twelve month low of $39.43 and a twelve month high of $52.31.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) 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%. Research analysts predict that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, March 18th. Air Lease’s payout ratio is presently 26.43%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America lowered shares of Air Lease from a “buy” rating to an “underperform” rating and decreased their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, UBS Group set a $50.00 target price on Air Lease in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.