Air Lease Co. (NYSE:AL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Air Lease Co. (NYSE:AL - Free Report) by 12.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,078,487 shares of the transportation company's stock after selling 702,872 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.56% of Air Lease worth $230,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AL. Principal Financial Group Inc. boosted its holdings in Air Lease by 9.2% during the third quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company's stock worth $37,591,000 after buying an additional 69,887 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease during the 3rd quarter worth about $31,000. Rehmann Capital Advisory Group acquired a new stake in shares of Air Lease during the 3rd quarter valued at about $202,000. Geode Capital Management LLC grew its position in shares of Air Lease by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company's stock valued at $73,858,000 after acquiring an additional 6,190 shares during the period. Finally, Barclays PLC increased its stake in shares of Air Lease by 104.6% in the 3rd quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock valued at $3,897,000 after purchasing an additional 43,981 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AL shares. The Goldman Sachs Group reissued a "buy" rating and issued a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.60.

Air Lease Trading Up 0.4 %

Air Lease stock traded up $0.17 during midday trading on Tuesday, hitting $48.21. 388,160 shares of the stock were exchanged, compared to its average volume of 923,321. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock's 50-day simple moving average is $48.37 and its 200 day simple moving average is $46.49. Air Lease Co. has a fifty-two week low of $39.15 and a fifty-two week high of $52.31. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.55 and a beta of 1.61.

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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease's previous quarterly dividend of $0.21. Air Lease's dividend payout ratio is 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.