Comerica Bank increased its stake in shares of Air Lease Co. (NYSE:AL – Get Rating) by 780.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,945 shares of the transportation company’s stock after buying an additional 58,459 shares during the quarter. Comerica Bank’s holdings in Air Lease were worth $2,215,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AL. JPMorgan Chase & Co. raised its position in Air Lease by 169.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,828,241 shares of the transportation company’s stock valued at $127,979,000 after purchasing an additional 2,408,607 shares during the last quarter. Invesco Ltd. raised its position in Air Lease by 141.3% in the 1st quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock valued at $165,846,000 after purchasing an additional 2,175,100 shares during the last quarter. Wellington Management Group LLP raised its position in Air Lease by 36.7% in the 1st quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock valued at $243,180,000 after purchasing an additional 1,460,769 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Air Lease in the 1st quarter valued at $58,077,000. Finally, Prudential Financial Inc. raised its position in Air Lease by 550.9% in the 1st quarter. Prudential Financial Inc. now owns 1,019,288 shares of the transportation company’s stock valued at $45,511,000 after purchasing an additional 862,698 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.
Air Lease Stock Down 0.2 %
NYSE AL opened at $42.96 on Friday. The stock has a fifty day moving average of $39.02 and a 200-day moving average of $36.50. The stock has a market capitalization of $4.76 billion, a P/E ratio of -38.36, a price-to-earnings-growth ratio of 0.37 and a beta of 1.75. Air Lease Co. has a 52 week low of $29.75 and a 52 week high of $47.00. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.85 and a current ratio of 1.85.
Air Lease Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Friday, December 16th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 15th. This is a boost from Air Lease’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.86%. Air Lease’s payout ratio is -71.43%.
Insider Buying and Selling
In related news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $39.27, for a total transaction of $392,700.00. Following the completion of the sale, the executive vice president now directly owns 146,693 shares of the company’s stock, valued at $5,760,634.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.57% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have issued reports on AL. Barclays cut their price objective on Air Lease from $55.00 to $52.00 in a research report on Friday, January 6th. Credit Suisse Group cut their price objective on Air Lease from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, November 4th. Finally, StockNews.com started coverage on Air Lease in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.
Air Lease Profile
Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.
- Get a free copy of the StockNews.com research report on Air Lease (AL)
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