Harbor Capital Advisors Inc. Grows Position in Air Lease Co. (NYSE:AL)

Harbor Capital Advisors Inc. raised its stake in shares of Air Lease Co. (NYSE:AL) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 162,685 shares of the transportation company’s stock after acquiring an additional 1,558 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.15% of Air Lease worth $7,843,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AL. Eastern Bank bought a new position in Air Lease during the third quarter valued at approximately $27,000. Altshuler Shaham Ltd purchased a new stake in Air Lease during the 2nd quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Air Lease during the 3rd quarter valued at $31,000. GAMMA Investing LLC boosted its stake in shares of Air Lease by 55.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock worth $85,000 after buying an additional 667 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Air Lease by 20.0% in the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after buying an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AL. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Price Performance

Air Lease stock traded down $1.97 during mid-day trading on Friday, hitting $45.29. The stock had a trading volume of 247,546 shares, compared to its average volume of 547,075. 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 firm’s 50 day moving average is $48.80 and its 200 day moving average is $46.56. The firm has a market capitalization of $5.04 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.55 and a beta of 1.61. Air Lease Co. has a one year low of $39.15 and a one year high of $52.31.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio (DPR) is 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.