Raymond James & Associates Acquires 50,675 Shares of Air Lease Co. (NYSE:AL)

Raymond James & Associates grew its holdings in Air Lease Co. (NYSE:AL) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 459,018 shares of the transportation company’s stock after buying an additional 50,675 shares during the quarter. Raymond James & Associates’ holdings in Air Lease were worth $20,789,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Air Lease by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 32,931 shares of the transportation company’s stock valued at $1,694,000 after buying an additional 1,970 shares during the period. MBM Wealth Consultants LLC boosted its position in Air Lease by 5.8% during the 1st quarter. MBM Wealth Consultants LLC now owns 12,114 shares of the transportation company’s stock valued at $626,000 after acquiring an additional 669 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Air Lease in the 1st quarter worth approximately $3,235,000. First Trust Direct Indexing L.P. bought a new position in shares of Air Lease in the 1st quarter worth approximately $253,000. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Air Lease by 459.7% in the 1st quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock valued at $2,198,000 after purchasing an additional 37,207 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Air Lease Stock Up 0.8 %

Shares of NYSE:AL opened at $44.59 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The stock has a fifty day simple moving average of $44.37 and a two-hundred day simple moving average of $46.52. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.29 and a beta of 1.59.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.41). The company had revenue of $667.29 million during the quarter, compared to analysts’ expectations of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. On average, research analysts anticipate that Air Lease Co. will post 4.83 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.84 annualized dividend and a yield of 1.88%. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

Analyst Ratings Changes

Several brokerages recently weighed in on AL. TD Cowen initiated coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Barclays lowered their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.75.

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 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.