Air Lease (NYSE:AL) Sets New 12-Month High – Here’s Why

Air Lease Co. (NYSE:AL)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.31 and last traded at $52.16, with a volume of 772747 shares. The stock had previously closed at $50.64.

Analyst Ratings Changes

Several research firms have commented on AL. Barclays lowered their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 target price 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.60.

Air Lease Price Performance

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 firm has a market capitalization of $5.65 billion, a PE ratio of 11.67, a PEG ratio of 1.61 and a beta of 1.59. The stock has a 50-day moving average price of $45.79 and a 200 day moving average price of $46.13.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is 19.13%.

Institutional Trading of Air Lease

Large investors have recently made changes to their positions in the company. Eastern Bank purchased a new stake in Air Lease during the 3rd quarter valued at about $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Air Lease in the second quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease in the third quarter valued at approximately $31,000. GAMMA Investing LLC increased its holdings 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 during the last quarter. Finally, Hilltop National Bank lifted its position in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after buying an additional 448 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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.