Air Lease Co. (NYSE:AL) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its stake in Air Lease Co. (NYSE:AL) by 26.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,274 shares of the transportation company’s stock after acquiring an additional 7,563 shares during the quarter. Raymond James Trust N.A.’s holdings in Air Lease were worth $1,643,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

AL has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. TD Cowen started coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. Finally, Barclays dropped their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Stock Up 1.7 %

NYSE AL opened at $50.64 on Friday. The business has a fifty day moving average price of $45.48 and a 200 day moving average price of $46.13. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $5.64 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.54 and a beta of 1.59. Air Lease Co. has a one year low of $37.65 and a one year high of $52.31.

Air Lease Increases Dividend

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

About Air Lease

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.