Raymond James Trust N.A. Increases Stock Position in Air Lease Co. (NYSE:AL)

Raymond James Trust N.A. boosted its holdings in shares of Air Lease Co. (NYSE:AL) by 26.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,274 shares of the transportation company’s stock after buying an additional 7,563 shares during the quarter. Raymond James Trust N.A.’s holdings in Air Lease were worth $1,643,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Artemis Investment Management LLP purchased a new stake in shares of Air Lease during the second quarter valued at about $22,339,000. Principal Financial Group Inc. lifted its position in Air Lease by 42.6% during the second quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after acquiring an additional 227,274 shares during the last quarter. Boston Partners boosted its stake in Air Lease by 239.9% in the first quarter. Boston Partners now owns 307,657 shares of the transportation company’s stock valued at $15,827,000 after acquiring an additional 217,153 shares in the last quarter. Kingdon Capital Management L.L.C. purchased a new position in Air Lease in the first quarter worth $10,802,000. Finally, Thornburg Investment Management Inc. acquired a new position in shares of Air Lease during the second quarter worth $7,885,000. Institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AL shares. Barclays dropped their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. TD Cowen began coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 target price for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Trading Up 1.7 %

Shares of NYSE:AL opened at $50.64 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a 52-week low of $37.65 and a 52-week high of $52.31. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.54 and a beta of 1.59. The business has a 50-day moving average price of $45.48 and a 200-day moving average price of $46.13.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Air Lease’s dividend payout ratio (DPR) is currently 19.13%.

Air Lease 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.