Massachusetts Financial Services Co. MA Sells 32,646 Shares of Air Lease Co. (NYSE:AL)

Massachusetts Financial Services Co. MA reduced its position in shares of Air Lease Co. (NYSE:AL) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,159,174 shares of the transportation company’s stock after selling 32,646 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.04% of Air Lease worth $52,499,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Air Lease by 0.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after acquiring an additional 314 shares during the period. CWM LLC boosted its position in Air Lease by 16.5% during the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after purchasing an additional 440 shares during the period. Hilltop National Bank raised its position in shares of Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 448 shares during the period. KBC Group NV lifted its stake in shares of Air Lease by 20.0% during the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after buying an additional 557 shares during the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of Air Lease by 6.6% during the 3rd quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock worth $434,000 after buying an additional 597 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Up 1.7 %

Shares of NYSE AL opened at $50.64 on Monday. The stock has a market capitalization of $5.64 billion, a P/E ratio of 11.54, a PEG ratio of 1.54 and a beta of 1.59. The stock’s fifty day moving average is $45.48 and its 200 day moving average is $46.10. Air Lease Co. has a 52 week low of $37.65 and a 52 week high of $52.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is currently 19.13%.

Analysts Set New Price Targets

Several brokerages have issued reports on AL. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research report on Thursday. TD Cowen started coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Barclays dropped their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.60.

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.