Highland Peak Capital LLC Invests $7.07 Million in Air Lease Co. (NYSE:AL)

Highland Peak Capital LLC bought a new position in shares of Air Lease Co. (NYSE:AL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 156,014 shares of the transportation company's stock, valued at approximately $7,066,000. Air Lease accounts for about 3.1% of Highland Peak Capital LLC's investment portfolio, making the stock its 6th largest position. Highland Peak Capital LLC owned approximately 0.14% of Air Lease at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Air Lease by 23.6% during the first 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. Royce & Associates LP boosted its position in shares of Air Lease by 2.5% in the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company's stock worth $130,232,000 after buying an additional 70,299 shares in the last quarter. American Century Companies Inc. grew its stake in 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 acquiring an additional 115,293 shares during the last quarter. Earnest Partners LLC lifted its holdings 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Air Lease by 5.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company's stock valued at $100,743,000 after purchasing an additional 101,568 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Stock Up 3.9 %

Shares of NYSE AL traded up $1.88 during trading on Thursday, reaching $49.80. 735,761 shares of the stock were exchanged, compared to its average volume of 959,011. Air Lease Co. has a twelve month low of $37.65 and a twelve month high of $52.31. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.49 and a beta of 1.59. 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 business's 50-day moving average price is $45.20 and its 200 day moving average price is $46.11.

Air Lease Increases Dividend

The firm also recently announced 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 represents a $0.88 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Air Lease's previous quarterly dividend of $0.21. Air Lease's dividend payout ratio is presently 19.13%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of Air Lease in a research note on Thursday. Barclays lowered their price target on shares of Air Lease from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Air Lease from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. Finally, TD Cowen initiated 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has an average rating of "Moderate Buy" and a consensus target price of $57.60.

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.