Air Lease Co. (NYSE:AL) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its holdings in shares of Air Lease Co. (NYSE:AL) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,231 shares of the transportation company’s stock after selling 128,197 shares during the period. Douglas Lane & Associates LLC owned about 0.52% of Air Lease worth $28,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Air Lease during the third quarter worth $872,000. American Century Companies Inc. raised its stake in 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 period. BCGM Wealth Management LLC acquired a new position in shares of Air Lease in the 3rd quarter valued at $1,899,000. Public Sector Pension Investment Board grew its stake 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 valued at $10,833,000 after buying an additional 16,281 shares during the period. Finally, Earnest Partners LLC increased its holdings 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 buying an additional 155,665 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AL shares. The Goldman Sachs Group reiterated 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 report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Stock Performance

Shares of AL stock traded down $0.61 on Wednesday, hitting $47.32. 224,366 shares of the stock traded hands, compared to its average volume of 553,786. The company’s fifty day moving average is $48.70 and its 200 day moving average is $46.55. Air Lease Co. has a 1-year low of $39.15 and a 1-year high of $52.31. The company has a market capitalization of $5.27 billion, a PE ratio of 10.78, a PEG ratio of 1.55 and a beta of 1.61. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is presently 20.05%.

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.