Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Air Lease Co. (NYSE:AL)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Air Lease Co. (NYSE:AL) by 55.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,104 shares of the transportation company’s stock after selling 22,930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Air Lease were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Eastern Bank purchased a new position in Air Lease in the third quarter valued at about $27,000. Altshuler Shaham Ltd bought a new position in shares of Air Lease during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC raised its stake in shares of Air Lease by 108.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after acquiring an additional 624 shares in the last quarter. Monetary Management Group Inc. purchased a new stake in Air Lease during the second quarter valued at approximately $95,000. Finally, CWM LLC boosted its stake in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after acquiring an additional 440 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Price Performance

Shares of NYSE AL opened at $50.03 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The firm’s 50 day simple moving average is $46.64 and its 200-day simple moving average is $46.25. Air Lease Co. has a 12 month low of $38.92 and a 12 month high of $52.31. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.56 and a beta of 1.61.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is a boost 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 dividend on an annualized basis and a yield of 1.76%. Air Lease’s payout ratio is presently 20.05%.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

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.