Verition Fund Management LLC Acquires 1,118 Shares of Air Lease Co. (NYSE:AL)

Verition Fund Management LLC lifted its holdings in shares of Air Lease Co. (NYSE:AL) by 6.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,300 shares of the transportation company’s stock after acquiring an additional 1,118 shares during the period. Verition Fund Management LLC’s holdings in Air Lease were worth $829,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Royce & Associates LP raised its stake in Air Lease by 2.5% during the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after acquiring an additional 70,299 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after purchasing an additional 115,293 shares during the last quarter. Earnest Partners LLC increased its position in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after purchasing an additional 155,665 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Air Lease by 5.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after purchasing an additional 101,568 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its position in Air Lease by 0.7% in the third quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock valued at $82,926,000 after buying an additional 12,441 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of Air Lease stock opened at $50.22 on Tuesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $46.74 and a 200 day simple moving average of $46.24. Air Lease Co. has a fifty-two week low of $38.92 and a fifty-two week high of $52.31. The firm has a market cap of $5.59 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.22 dividend. This is a boost from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is 19.13%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AL shares. JPMorgan Chase & Co. raised their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

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.