Air Lease Co. (NYSE:AL) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in Air Lease Co. (NYSE:AL) by 10.8% during the third quarter, HoldingsChannel reports. The fund owned 20,937 shares of the transportation company’s stock after selling 2,524 shares during the period. Janney Montgomery Scott LLC’s holdings in Air Lease were worth $948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased its stake in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 440 shares during the last quarter. Hilltop National Bank boosted its holdings in shares of Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after buying an additional 448 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Air Lease by 6.6% in the 3rd quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock valued at $434,000 after buying an additional 597 shares in the last quarter. Eastern Bank purchased a new position in shares of Air Lease in the 3rd quarter valued at $27,000. Finally, Altshuler Shaham Ltd acquired a new stake in Air Lease during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Down 1.1 %

Shares of NYSE AL opened at $48.47 on Friday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59. Air Lease Co. has a 52 week low of $37.59 and a 52 week high of $52.31. The firm has a 50-day moving average price of $44.84 and a 200 day moving average price of $46.17. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is currently 20.05%.

Wall Street Analyst Weigh In

AL has been the topic of several research reports. Barclays dropped their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. TD Cowen assumed coverage on Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and an average target price of $55.75.

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.