HighTower Advisors LLC Lowers Stake in Air Lease Co. (NYSE:AL)

HighTower Advisors LLC cut its stake in Air Lease Co. (NYSE:AL) by 15.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,369 shares of the transportation company’s stock after selling 1,302 shares during the period. HighTower Advisors LLC’s holdings in Air Lease were worth $333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AL. Connor Clark & Lunn Investment Management Ltd. bought a new position in Air Lease during the third quarter valued at approximately $872,000. American Century Companies Inc. grew its holdings in shares of Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares during the last quarter. BCGM Wealth Management LLC purchased a new position in Air Lease in the 3rd quarter worth $1,899,000. Public Sector Pension Investment Board lifted its stake in Air Lease by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock worth $10,833,000 after purchasing an additional 16,281 shares during the last quarter. Finally, Hahn Capital Management LLC lifted its stake in Air Lease by 20.2% in the second quarter. Hahn Capital Management LLC now owns 131,470 shares of the transportation company’s stock worth $6,249,000 after purchasing an additional 22,053 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Air Lease Price Performance

AL stock opened at $48.61 on Tuesday. The firm’s 50-day moving average price is $47.84 and its two-hundred day moving average price is $46.35. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.55 and a beta of 1.61. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a 12-month low of $39.15 and a 12-month high of $52.31.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s payout ratio is presently 20.05%.

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 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.