JPMorgan Chase & Co. Increases Air Lease (NYSE:AL) Price Target to $56.00

Air Lease (NYSE:AL) had its price target hoisted by JPMorgan Chase & Co. from $52.00 to $56.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

AL has been the topic of a number of other reports. TD Cowen started coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective on the stock. Barclays reduced their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average price target of $55.75.

Air Lease Stock Down 1.1 %

NYSE AL opened at $48.47 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock’s 50 day moving average is $44.84 and its two-hundred day moving average is $46.20. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.47 and a beta of 1.59. Air Lease has a 1-year low of $37.59 and a 1-year high of $52.31.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s payout ratio is presently 19.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AL. Janney Montgomery Scott LLC lifted its holdings in Air Lease by 23.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the transportation company’s stock worth $748,000 after buying an additional 2,765 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in Air Lease during the 1st quarter worth $915,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Air Lease by 1.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after buying an additional 291 shares in the last quarter. SG Americas Securities LLC acquired a new position in Air Lease during the 1st quarter worth $131,000. Finally, Sei Investments Co. lifted its holdings in Air Lease by 1.3% during the 1st quarter. Sei Investments Co. now owns 284,903 shares of the transportation company’s stock worth $14,655,000 after buying an additional 3,712 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

About Air Lease

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.