Swiss National Bank Reduces Stock Position in Air Lease Co. (NYSE:AL)

Swiss National Bank cut its stake in Air Lease Co. (NYSE:AL) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 206,600 shares of the transportation company’s stock after selling 1,300 shares during the quarter. Swiss National Bank’s holdings in Air Lease were worth $9,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AL. Eastern Bank bought a new position in Air Lease in the 3rd quarter worth about $27,000. Altshuler Shaham Ltd purchased a new position in Air Lease during the second quarter valued at approximately $29,000. GAMMA Investing LLC grew its stake in Air Lease by 108.1% during the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 624 shares in the last quarter. Hilltop National Bank lifted its stake in Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after purchasing an additional 448 shares in the last quarter. Finally, Monetary Management Group Inc. bought a new position in Air Lease in the 2nd quarter valued at $95,000. 94.59% of the stock is currently owned by institutional investors.

Air Lease Price Performance

Shares of Air Lease stock opened at $50.64 on Monday. The business’s 50-day moving average price is $45.48 and its 200-day moving average price is $46.10. The firm has a market capitalization of $5.64 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.59. 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 firm also recently disclosed 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 represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s payout ratio is presently 19.13%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Air Lease in a report on Thursday. Barclays decreased their target price 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. TD Cowen began coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.