Air Lease Co. (NYSE:AL) Stake Cut by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in Air Lease Co. (NYSE:AL - Free Report) by 18.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,231 shares of the transportation company's stock after selling 128,197 shares during the quarter. 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 large investors have also recently added to or reduced their stakes in the business. Eastern Bank bought a new position in shares of Air Lease in the third quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new stake in Air Lease in the second quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new position in Air Lease during the 3rd quarter valued at $31,000. GAMMA Investing LLC increased its position in shares of Air Lease by 55.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company's stock valued at $85,000 after purchasing an additional 667 shares during the period. Finally, KBC Group NV raised its stake in shares of Air Lease by 20.0% in the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company's stock worth $151,000 after buying an additional 557 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Trading Down 1.3 %

Shares of NYSE:AL traded down $0.63 during midday trading on Wednesday, reaching $47.30. The company had a trading volume of 488,518 shares, compared to its average volume of 610,104. The company has a fifty day simple moving average of $48.74 and a two-hundred day simple moving average of $46.55. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. Air Lease Co. has a 1-year low of $39.15 and a 1-year high of $52.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current 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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.86%. This is a boost from Air Lease's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, December 12th. Air Lease's dividend payout ratio (DPR) is presently 20.05%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Air Lease has a consensus rating of "Moderate Buy" and a consensus price target of $57.60.

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.