Air Lease (NYSE:AL) had its price objective increased by JPMorgan Chase & Co. from $48.00 to $54.50 in a report issued on Tuesday, March 6th. They currently have an overweight rating on the transportation company’s stock.
AL has been the topic of several other research reports. Citigroup upped their price target on Air Lease from $46.00 to $53.00 and gave the company a buy rating in a research note on Tuesday, February 27th. UBS Group reaffirmed a sell rating and set a $32.00 price target (up previously from $31.00) on shares of Air Lease in a research report on Wednesday, February 21st. Zacks Investment Research upgraded Air Lease from a sell rating to a hold rating in a report on Wednesday, November 15th. ValuEngine downgraded Air Lease from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, Cowen raised their price target on Air Lease from $45.00 to $54.00 and gave the company an outperform rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $52.05.
Shares of Air Lease (AL) opened at $43.92 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $4,538.63, a P/E ratio of 11.97, a P/E/G ratio of 0.67 and a beta of 1.74. Air Lease has a 1-year low of $34.42 and a 1-year high of $50.70.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 20th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Air Lease’s dividend payout ratio (DPR) is presently 5.87%.
In other news, Chairman Steven F. Udvar-Hazy sold 9,150 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $43.25, for a total value of $395,737.50. Following the completion of the transaction, the chairman now directly owns 926,962 shares of the company’s stock, valued at $40,091,106.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven F. Udvar-Hazy sold 24,564 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $44.25, for a total value of $1,086,957.00. Following the transaction, the insider now directly owns 952,376 shares of the company’s stock, valued at $42,142,638. The disclosure for this sale can be found here. Insiders sold a total of 50,714 shares of company stock worth $2,279,605 over the last three months. 9.76% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Boston Partners raised its position in shares of Air Lease by 2.0% in the third quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock worth $369,267,000 after buying an additional 169,454 shares in the last quarter. BlackRock Inc. raised its position in Air Lease by 1.0% during the fourth quarter. BlackRock Inc. now owns 3,969,721 shares of the transportation company’s stock valued at $190,905,000 after purchasing an additional 40,270 shares in the last quarter. Bamco Inc. NY raised its position in Air Lease by 3.1% during the third quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock valued at $100,970,000 after purchasing an additional 70,200 shares in the last quarter. Royce & Associates LP raised its position in Air Lease by 0.3% during the third quarter. Royce & Associates LP now owns 1,382,300 shares of the transportation company’s stock valued at $58,914,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Capital Counsel LLC NY raised its position in Air Lease by 0.4% during the fourth quarter. Capital Counsel LLC NY now owns 628,550 shares of the transportation company’s stock valued at $30,227,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors own 90.32% of the company’s stock.
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Air Lease Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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