Oppenheimer Asset Management Inc. Raises Holdings in Air Lease Co. (NYSE:AL)

Oppenheimer Asset Management Inc. boosted its stake in shares of Air Lease Co. (NYSE:AL) by 0.6% in the 3rd quarter, Holdings Channel reports. The fund owned 53,625 shares of the transportation company’s stock after buying an additional 314 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Air Lease were worth $2,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of AL. State of New Jersey Common Pension Fund D grew its stake in shares of Air Lease by 4.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 43,206 shares of the transportation company’s stock worth $1,957,000 after purchasing an additional 1,734 shares during the period. Verity Asset Management Inc. boosted its holdings in Air Lease by 10.0% during the third quarter. Verity Asset Management Inc. now owns 11,160 shares of the transportation company’s stock worth $505,000 after buying an additional 1,019 shares in the last quarter. Principal Financial Group Inc. grew its position in Air Lease by 9.2% during the third quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company’s stock valued at $37,591,000 after buying an additional 69,887 shares during the period. QRG Capital Management Inc. increased its holdings in Air Lease by 18.6% in the third quarter. QRG Capital Management Inc. now owns 7,979 shares of the transportation company’s stock valued at $361,000 after buying an additional 1,253 shares in the last quarter. Finally, Innealta Capital LLC raised its position in shares of Air Lease by 11.5% in the third quarter. Innealta Capital LLC now owns 6,397 shares of the transportation company’s stock worth $290,000 after acquiring an additional 660 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Price Performance

NYSE:AL opened at $48.47 on Friday. The firm has a market cap of $5.40 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59. The stock has a 50 day moving average of $44.84 and a two-hundred day moving average of $46.17. Air Lease Co. has a 12 month low of $37.59 and a 12 month high of $52.31. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 yield of 1.82%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio is currently 20.05%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AL. JPMorgan Chase & Co. increased 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. Barclays decreased their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, TD Cowen initiated coverage on shares of Air Lease in a report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.75.

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.