Air Lease Co. (NYSE:AL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in Air Lease Co. (NYSE:AL) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,078,487 shares of the transportation company’s stock after selling 702,872 shares during the quarter. JPMorgan Chase & Co. owned 4.56% of Air Lease worth $230,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its stake in Air Lease by 0.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after buying an additional 314 shares during the period. BNP Paribas Financial Markets boosted its position in Air Lease by 12.6% during the 3rd 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. Orion Portfolio Solutions LLC increased its holdings in Air Lease by 11.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,819 shares of the transportation company’s stock valued at $218,000 after purchasing an additional 511 shares in the last quarter. KBC Group NV raised its position in Air Lease by 20.0% in the third quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 557 shares during the period. Finally, Fulton Bank N.A. lifted its stake in shares of Air Lease by 6.6% during the third quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock worth $434,000 after purchasing an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AL shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Price Performance

Shares of NYSE AL opened at $48.04 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a fifty-two week low of $39.15 and a fifty-two week high of $52.31. The business has a 50 day moving average price of $48.21 and a two-hundred day moving average price of $46.45. The firm has a market cap of $5.35 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s payout ratio is 20.05%.

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.