Air Lease Co. (NYSE:AL) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its position in Air Lease Co. (NYSE:AL) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,047 shares of the transportation company’s stock after selling 285 shares during the period. Atria Investments Inc’s holdings in Air Lease were worth $908,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Air Lease by 23.6% during the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after buying an additional 2,404,649 shares during the period. American Century Companies Inc. boosted its holdings in shares of Air Lease by 5.0% during the second 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 grew its position in shares of Air Lease by 7.4% in the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock valued at $107,859,000 after purchasing an additional 155,665 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Air Lease by 5.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock worth $100,743,000 after buying an additional 101,568 shares during the period. Finally, Copeland Capital Management LLC lifted its position in Air Lease by 0.7% during the third quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after buying an additional 12,441 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on AL. TD Cowen assumed coverage on Air Lease in a report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. Barclays cut their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.75.

Air Lease Price Performance

AL opened at $48.47 on Monday. The company has a 50 day moving average of $44.84 and a two-hundred day moving average of $46.14. Air Lease Co. has a 52-week low of $37.59 and a 52-week high of $52.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The company has a market cap of $5.40 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.44 and a beta of 1.59.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.82%. Air Lease’s dividend payout ratio (DPR) is 19.13%.

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.