UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 26,968 Shares of Air Lease Co. (NYSE:AL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Air Lease Co. (NYSE:AL) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,185 shares of the transportation company’s stock after selling 26,968 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Air Lease were worth $10,108,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AL. Eastern Bank acquired a new position in Air Lease in the third quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new position in shares of Air Lease during the 2nd quarter valued at $29,000. GAMMA Investing LLC boosted its stake in Air Lease by 55.5% during the third quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock worth $85,000 after acquiring an additional 667 shares in the last quarter. Monetary Management Group Inc. acquired a new stake in Air Lease in the second quarter worth $95,000. Finally, CWM LLC increased its stake in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AL. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Air Lease Price Performance

AL stock opened at $50.03 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The business has a 50-day simple moving average of $46.64 and a two-hundred day simple moving average of $46.22. The company has a market capitalization of $5.57 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61. Air Lease Co. has a 52-week low of $38.92 and a 52-week high of $52.31.

Air Lease Increases Dividend

The business also recently announced 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 a boost 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 annualized dividend and a dividend yield of 1.76%. Air Lease’s payout ratio is presently 19.13%.

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.