Air Lease Co. (NYSE:AL) Shares Purchased by Royce & Associates LP

Royce & Associates LP grew its holdings in Air Lease Co. (NYSE:AL) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,875,522 shares of the transportation company’s stock after acquiring an additional 70,299 shares during the period. Air Lease comprises approximately 1.2% of Royce & Associates LP’s portfolio, making the stock its largest position. Royce & Associates LP owned 2.58% of Air Lease worth $130,232,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Eastern Bank acquired a new position in Air Lease in the third quarter valued at $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Air Lease in the second quarter valued at about $29,000. GAMMA Investing LLC lifted its holdings in shares of Air Lease by 108.1% in the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 624 shares in the last quarter. Hilltop National Bank lifted its stake in shares of Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after buying an additional 448 shares during the period. Finally, Monetary Management Group Inc. purchased a new position in shares of Air Lease during the second quarter valued at approximately $95,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AL. JPMorgan Chase & Co. increased their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen assumed coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Air Lease Price Performance

NYSE:AL opened at $49.00 on Friday. The stock has a market cap of $5.46 billion, a P/E ratio of 11.16, a PEG ratio of 1.47 and a beta of 1.59. Air Lease Co. has a one year low of $37.59 and a one year high of $52.31. The company has a fifty day moving average price of $44.72 and a 200 day moving average price of $46.22. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 annualized dividend and a dividend yield of 1.80%. Air Lease’s dividend payout ratio is presently 19.13%.

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.