Huntington National Bank Sells 420 Shares of Air Lease Co. (NYSE:AL)

Huntington National Bank lowered its holdings in Air Lease Co. (NYSE:AL) by 0.2% in the third quarter, HoldingsChannel.com reports. The firm owned 251,972 shares of the transportation company’s stock after selling 420 shares during the quarter. Huntington National Bank’s holdings in Air Lease were worth $11,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Air Lease by 240.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock valued at $7,119,000 after buying an additional 97,703 shares during the period. American Century Companies Inc. raised its position 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 valued at $115,673,000 after buying an additional 115,293 shares in the last quarter. Comerica Bank raised its position in shares of Air Lease by 32.0% in the 1st quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock valued at $7,115,000 after buying an additional 33,524 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Air Lease by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock worth $10,833,000 after acquiring an additional 16,281 shares during the period. Institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AL shares. TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Barclays dropped their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.75.

Air Lease Stock Performance

Shares of Air Lease stock opened at $49.00 on Friday. The company’s 50 day moving average price is $44.72 and its two-hundred day moving average price is $46.22. The firm has a market capitalization of $5.46 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.44 and a beta of 1.59. Air Lease Co. has a fifty-two week low of $37.59 and a fifty-two week high of $52.31. 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 disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 annualized dividend and a dividend yield of 1.80%. Air Lease’s dividend payout ratio (DPR) is 19.13%.

Air Lease Company 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.