Barclays PLC Grows Position in Air Lease Co. (NYSE:AL)

Barclays PLC grew its stake in shares of Air Lease Co. (NYSE:AL) by 177.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,895 shares of the transportation company’s stock after purchasing an additional 17,836 shares during the quarter. Barclays PLC’s holdings in Air Lease were worth $1,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AL. Invesco Ltd. raised its holdings in shares of Air Lease by 141.3% during the first quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock valued at $165,846,000 after acquiring an additional 2,175,100 shares in the last quarter. Wellington Management Group LLP raised its holdings in Air Lease by 36.7% in the first quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock worth $243,180,000 after purchasing an additional 1,460,769 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Air Lease in the first quarter worth $58,077,000. Penn Capital Management Company LLC bought a new position in Air Lease in the first quarter worth $46,494,000. Finally, Norges Bank bought a new position in Air Lease in the fourth quarter worth $41,846,000. Institutional investors own 88.16% of the company’s stock.

Air Lease Price Performance

Shares of NYSE:AL opened at $38.78 on Monday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $46.20. The company has a market capitalization of $4.31 billion, a PE ratio of 8.68, a PEG ratio of 0.90 and a beta of 1.74. The business has a fifty day moving average price of $37.23 and a 200-day moving average price of $39.54.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Air Lease’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.17%. Air Lease’s dividend payout ratio (DPR) is 17.90%.

Analyst Ratings Changes

AL has been the subject of a number of research reports. Barclays initiated coverage on Air Lease in a report on Wednesday, November 15th. They issued an “overweight” rating and a $46.00 price objective for the company. Bank of America decreased their price objective on Air Lease from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 30th. Citigroup raised their price target on Air Lease from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 11th. Finally, StockNews.com upgraded Air Lease from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.60.

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 also sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios.