JPMorgan Chase & Co. Raises Air Lease (NYSE:AL) Price Target to $56.00

Air Lease (NYSE:AL - Free Report) had its target price increased by JPMorgan Chase & Co. from $52.00 to $56.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company's stock.

AL has been the topic of a number of other research reports. Barclays cut their target price on shares of Air Lease from $55.00 to $54.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. TD Cowen started coverage on Air Lease in a report on Monday, July 29th. They issued a "buy" rating and a $58.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.75.

Air Lease Price Performance

Shares of Air Lease stock traded up $0.02 on Tuesday, reaching $48.38. 744,854 shares of the stock were exchanged, compared to its average volume of 969,536. The firm's 50 day moving average is $44.42 and its 200-day moving average is $46.20. The firm has a market cap of $5.39 billion, a PE ratio of 10.99, a P/E/G ratio of 1.40 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. Air Lease has a one year low of $36.58 and a one year high of $52.31.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.22 dividend. 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. This represents a $0.88 annualized dividend and a yield of 1.82%. Air Lease's dividend payout ratio is presently 20.05%.

Hedge Funds Weigh In On Air Lease

A number of hedge funds have recently bought and sold shares of AL. Vanguard Group Inc. grew its holdings in shares of Air Lease by 23.6% during the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company's stock valued at $647,018,000 after buying an additional 2,404,649 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Air Lease by 240.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company's stock worth $7,119,000 after buying an additional 97,703 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Air Lease in the 1st quarter worth approximately $915,000. American Century Companies Inc. grew its holdings 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 valued at $115,673,000 after purchasing an additional 115,293 shares during the period. Finally, Comerica Bank increased its position in Air Lease by 32.0% in the first quarter. Comerica Bank now owns 138,314 shares of the transportation company's stock worth $7,115,000 after buying an additional 33,524 shares during the last quarter. Institutional investors own 94.59% of the company's stock.

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.