Park Avenue Securities LLC Acquires 4,708 Shares of Air Lease Co. (NYSE:AL)

Park Avenue Securities LLC raised its position in shares of Air Lease Co. (NYSE:ALFree Report) by 34.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,203 shares of the transportation company’s stock after purchasing an additional 4,708 shares during the quarter. Park Avenue Securities LLC’s holdings in Air Lease were worth $878,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. State Street Corp boosted its holdings in Air Lease by 0.8% in the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock worth $155,180,000 after purchasing an additional 25,874 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Air Lease by 2.5% in the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after buying an additional 70,299 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Air Lease by 7.4% in the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after buying an additional 155,665 shares during the last quarter. Copeland Capital Management LLC grew its holdings in shares of Air Lease by 0.7% in the third quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after acquiring an additional 12,441 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Air Lease by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock worth $73,858,000 after buying an additional 6,190 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

NYSE:AL opened at $47.38 on Wednesday. The stock’s fifty day moving average is $48.75 and its 200 day moving average is $46.48. The firm has a market capitalization of $5.28 billion, a PE ratio of 10.79, a PEG ratio of 1.01 and a beta of 1.61. 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.

Air Lease Increases Dividend

The firm also recently announced 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. This represents a $0.88 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was 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%.

Analyst Upgrades and Downgrades

AL has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on 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 issued a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Read Our Latest Research Report on Air Lease

Air Lease Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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