Air Lease Co. (NYSE:AL) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its stake in Air Lease Co. (NYSE:AL) by 11.9% in the third quarter, HoldingsChannel reports. The fund owned 4,819 shares of the transportation company’s stock after purchasing an additional 511 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Air Lease were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P bought a new stake in Air Lease in the third quarter worth about $18,289,000. Principal Financial Group Inc. raised its holdings in shares of Air Lease by 42.6% in the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock worth $36,130,000 after purchasing an additional 227,274 shares in the last quarter. Thornburg Investment Management Inc. acquired a new stake in Air Lease during the second quarter valued at approximately $7,885,000. Highland Peak Capital LLC bought a new stake in Air Lease during the third quarter worth approximately $7,066,000. Finally, Earnest Partners LLC grew its position in Air Lease by 7.4% in the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after buying an additional 155,665 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Air Lease Trading Up 2.3 %

Air Lease stock opened at $48.57 on Friday. The company has a 50 day moving average price of $47.65 and a 200 day moving average price of $46.33. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Co. has a 52 week low of $39.15 and a 52 week high of $52.31. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued 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 dividend yield of 1.81%. Air Lease’s payout ratio is currently 20.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AL. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and a consensus 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.