BCGM Wealth Management LLC Acquires New Holdings in Air Lease Co. (NYSE:AL)

BCGM Wealth Management LLC bought a new position in shares of Air Lease Co. (NYSE:AL) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 41,934 shares of the transportation company’s stock, valued at approximately $1,899,000.

A number of other institutional investors have also recently bought and sold shares of AL. Eastern Bank bought a new stake in Air Lease in the 3rd quarter valued at $27,000. Altshuler Shaham Ltd acquired a new position in shares of Air Lease during the second quarter worth about $29,000. GAMMA Investing LLC grew its holdings in shares of Air Lease by 108.1% during the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after buying an additional 624 shares in the last quarter. Hilltop National Bank raised its position in Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after buying an additional 448 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new stake in Air Lease in the 2nd quarter valued at approximately $95,000. Institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

AL has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted 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 assumed coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Barclays decreased their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average price target of $55.75.

Air Lease Price Performance

Shares of AL opened at $48.47 on Friday. 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 company’s fifty day simple moving average is $44.84 and its 200 day simple moving average is $46.17. Air Lease Co. has a 1-year low of $37.59 and a 1-year high of $52.31. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.47 and a beta of 1.59.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid 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 annualized dividend and a dividend yield of 1.82%. Air Lease’s payout ratio is currently 20.05%.

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.