Massachusetts Financial Services Co. MA Lowers Position in Air Lease Co. (NYSE:AL)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Air Lease Co. (NYSE:AL - Free Report) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,159,174 shares of the transportation company's stock after selling 32,646 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.04% of Air Lease worth $52,499,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank purchased a new position in shares of Air Lease in the third quarter valued at $27,000. Altshuler Shaham Ltd purchased a new position in shares of Air Lease in the second quarter valued at $29,000. GAMMA Investing LLC grew its position in shares of Air Lease by 108.1% in the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company's stock valued at $57,000 after purchasing an additional 624 shares in the last quarter. Hilltop National Bank grew its position in shares of Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company's stock valued at $84,000 after purchasing an additional 448 shares in the last quarter. Finally, Monetary Management Group Inc. purchased a new position in shares of Air Lease in the second quarter valued at $95,000. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AL has been the subject of several recent analyst reports. The Goldman Sachs Group restated a "buy" rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday. TD Cowen assumed coverage on Air Lease in a research report on Monday, July 29th. They set a "buy" rating and a $58.00 price target for the company. JPMorgan Chase & Co. upped their target price on Air Lease from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Finally, Barclays reduced their target price on Air Lease from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.60.

Air Lease Stock Performance

AL traded up $1.55 during mid-day trading on Monday, reaching $52.19. 298,254 shares of the company traded hands, compared to its average volume of 955,133. The stock has a market capitalization of $5.81 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.57 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 company's fifty day moving average price is $45.48 and its 200-day moving average price is $46.10. Air Lease Co. has a 52-week low of $37.65 and a 52-week high of $52.31.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 yield of 1.69%. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease's previous quarterly dividend of $0.21. Air Lease's payout ratio is currently 20.05%.

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.