Zweig DiMenna Associates LLC Acquires 46,000 Shares of Air Lease Co. (NYSE:AL)

Zweig DiMenna Associates LLC lifted its position in shares of Air Lease Co. (NYSE:AL - Free Report) by 230.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,000 shares of the transportation company's stock after buying an additional 46,000 shares during the quarter. Zweig DiMenna Associates LLC owned about 0.06% of Air Lease worth $3,182,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AL. Vanguard Personalized Indexing Management LLC increased its position in shares of Air Lease by 8.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,508 shares of the transportation company's stock worth $547,000 after buying an additional 936 shares during the period. Sei Investments Co. grew its holdings in Air Lease by 10.4% in the second quarter. Sei Investments Co. now owns 314,556 shares of the transportation company's stock worth $14,952,000 after purchasing an additional 29,653 shares during the period. Ensign Peak Advisors Inc grew its holdings in Air Lease by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 33,068 shares of the transportation company's stock worth $1,572,000 after purchasing an additional 1,910 shares during the period. Bank of Montreal Can grew its holdings in Air Lease by 2.4% in the second quarter. Bank of Montreal Can now owns 70,018 shares of the transportation company's stock worth $3,376,000 after purchasing an additional 1,638 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Air Lease in the second quarter worth $221,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AL has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. The Goldman Sachs Group restated a "buy" rating and issued a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.60.

Air Lease Stock Down 0.8 %

Shares of NYSE AL traded down $0.36 during mid-day trading on Friday, reaching $46.95. 438,619 shares of the company's stock traded hands, compared to its average volume of 672,821. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day simple moving average of $48.67 and a 200 day simple moving average of $46.49. Air Lease Co. has a 1-year low of $39.35 and a 1-year high of $52.31. The stock has a market cap of $5.23 billion, a P/E ratio of 10.69, a PEG ratio of 1.02 and a beta of 1.61.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a $0.22 dividend. This is a positive change from Air Lease's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.88 annualized dividend and a yield of 1.87%. 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.