Oppenheimer & Co. Inc. Lowers Stake in Air Lease Co. (NYSE:AL)

Oppenheimer & Co. Inc. cut its holdings in shares of Air Lease Co. (NYSE:AL) by 37.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,559 shares of the transportation company’s stock after selling 9,995 shares during the period. Oppenheimer & Co. Inc.’s holdings in Air Lease were worth $750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Eastern Bank acquired a new stake in Air Lease in the third quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new stake in Air Lease in the 2nd quarter valued at $29,000. GAMMA Investing LLC increased its holdings in Air Lease by 108.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after acquiring an additional 624 shares in the last quarter. Hilltop National Bank raised its position in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after acquiring an additional 448 shares during the period. Finally, Monetary Management Group Inc. purchased a new position in Air Lease during the second quarter valued at $95,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Cowen started coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. JPMorgan Chase & Co. raised their target price on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Barclays lowered their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.75.

Air Lease Price Performance

AL stock opened at $48.24 on Wednesday. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.44 and a beta of 1.59. The firm has a 50-day moving average of $45.09 and a two-hundred day moving average of $46.10. Air Lease Co. has a 12 month low of $37.65 and a 12 month high of $52.31. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. This is an increase from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. Air Lease’s dividend payout ratio (DPR) is presently 19.13%.

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.