Fmr LLC Sells 310,374 Shares of Air Lease Co. (NYSE:AL)

Fmr LLC cut its stake in shares of Air Lease Co. (NYSE:AL) by 82.4% during the 3rd quarter, Holdings Channel reports. The fund owned 66,121 shares of the transportation company’s stock after selling 310,374 shares during the period. Fmr LLC’s holdings in Air Lease were worth $2,995,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AL. Loomis Sayles & Co. L P bought a new position in shares of Air Lease in the 3rd quarter worth $18,289,000. Principal Financial Group Inc. lifted its stake in shares of Air Lease by 42.6% in the second quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after buying an additional 227,274 shares in the last quarter. Thornburg Investment Management Inc. bought a new position in shares of Air Lease in the second quarter valued at $7,885,000. Highland Peak Capital LLC acquired a new position in shares of Air Lease during the third quarter valued at about $7,066,000. Finally, Earnest Partners LLC increased its position in shares of Air Lease by 7.4% during the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after acquiring an additional 155,665 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AL shares. JPMorgan Chase & Co. raised their price target on shares of 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 reissued a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Stock Up 0.1 %

AL opened at $49.42 on Friday. Air Lease Co. has a fifty-two week low of $39.15 and a fifty-two week high of $52.31. The firm has a market capitalization of $5.50 billion, a P/E ratio of 11.26, a PEG ratio of 1.55 and a beta of 1.61. The company’s 50-day moving average is $47.23 and its 200 day moving average is $46.29. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.88 annualized dividend and a dividend yield of 1.78%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio (DPR) is currently 20.05%.

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.