Dimensional Fund Advisors LP reduced its holdings in shares of Air Lease Co. (NYSE:AL – Free Report) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,554,461 shares of the transportation company’s stock after selling 180,859 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of Air Lease worth $274,302,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new position in shares of Air Lease during the first quarter valued at about $28,000. Neo Ivy Capital Management purchased a new position in shares of Air Lease in the second quarter worth $31,000. Lazard Asset Management LLC purchased a new position in shares of Air Lease in the first quarter worth $66,000. MetLife Investment Management LLC purchased a new stake in shares of Air Lease during the first quarter valued at $96,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Air Lease by 19.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,324 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 371 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on AL. Citigroup boosted their price target on Air Lease from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. StockNews.com raised shares of Air Lease from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Bank of America reduced their target price on shares of Air Lease from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 30th. Finally, Barclays initiated coverage on shares of Air Lease in a report on Wednesday. They issued an “overweight” rating and a $46.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Air Lease currently has a consensus rating of “Moderate Buy” and an average target price of $52.60.
Air Lease Stock Performance
Shares of NYSE AL opened at $38.33 on Thursday. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $46.20. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The company’s fifty day moving average price is $37.31 and its 200 day moving average price is $39.55. The company has a market capitalization of $4.26 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 0.86 and a beta of 1.74.
Air Lease Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, December 14th. This is a boost from Air Lease’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.19%. Air Lease’s dividend payout ratio (DPR) is 17.90%.
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.
- Five stocks we like better than Air Lease
- Large Cap Stock Definition and How to Invest
- Buffett’s latest portfolio additions, trims, and cuts in Q3
- 5 Top Rated Dividend Stocks to Consider
- 5 reasons TJX Companies will hit new highs in 2024
- Pros And Cons Of Monthly Dividend Stocks
- Game-changing news for Ambarella puts the market in reversal
Receive News & Ratings for Air Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease and related companies with MarketBeat.com's FREE daily email newsletter.