Fmr LLC Has $3 Million Stock Position in Air Lease Co. (NYSE:AL)

Fmr LLC lessened its holdings in Air Lease Co. (NYSE:AL) by 82.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,121 shares of the transportation company’s stock after selling 310,374 shares during the quarter. Fmr LLC owned 0.06% of Air Lease worth $2,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank acquired a new stake in Air Lease in the third quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Air Lease during the 2nd quarter valued at $29,000. GAMMA Investing LLC grew its position in Air Lease by 55.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock worth $85,000 after acquiring an additional 667 shares during the last quarter. CWM LLC grew its position in Air Lease by 16.5% during the 2nd quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after acquiring an additional 440 shares during the last quarter. Finally, KBC Group NV increased its holdings in Air Lease by 20.0% in the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after purchasing an additional 557 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

Air Lease stock opened at $49.42 on Friday. The firm has a market cap of $5.50 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.55 and a beta of 1.61. The stock’s 50 day moving average is $47.23 and its 200 day moving average is $46.29. 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 Co. has a one year low of $39.15 and a one year high of $52.31.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.22 dividend. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio is currently 20.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AL. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Air Lease 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.