Zweig DiMenna Associates LLC lifted its stake in Air Lease Co. (NYSE:AL – Free Report) by 230.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,000 shares of the transportation company’s stock after purchasing an additional 46,000 shares during the quarter. Zweig DiMenna Associates LLC owned about 0.06% of Air Lease worth $3,182,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of AL. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Air Lease by 8.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,508 shares of the transportation company’s stock valued at $547,000 after buying an additional 936 shares during the last quarter. Sei Investments Co. grew its stake in Air Lease by 10.4% during the 2nd quarter. Sei Investments Co. now owns 314,556 shares of the transportation company’s stock valued at $14,952,000 after purchasing an additional 29,653 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Air Lease by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 33,068 shares of the transportation company’s stock valued at $1,572,000 after purchasing an additional 1,910 shares during the period. Bank of Montreal Can raised its stake in shares of Air Lease by 2.4% in the second quarter. Bank of Montreal Can now owns 70,018 shares of the transportation company’s stock worth $3,376,000 after purchasing an additional 1,638 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Air Lease during the second quarter worth about $221,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on AL. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday, November 21st. One 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, Air Lease currently has a consensus rating of “Moderate Buy” and an average price target of $57.60.
Air Lease Stock Down 0.1 %
AL opened at $47.25 on Friday. The company has a fifty day moving average of $48.67 and a two-hundred day moving average of $46.49. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Co. has a fifty-two week low of $39.35 and a fifty-two week high of $52.31. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.02 and a beta of 1.61.
Air Lease Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is currently 20.05%.
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.
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