Air Lease Co. (NYSE:AL) Shares Sold by ClearAlpha Technologies LP

ClearAlpha Technologies LP cut its stake in Air Lease Co. (NYSE:AL) by 29.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,744 shares of the transportation company’s stock after selling 4,010 shares during the period. ClearAlpha Technologies LP’s holdings in Air Lease were worth $441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AL. Verition Fund Management LLC raised its position in Air Lease by 6.5% in the 3rd quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company’s stock valued at $829,000 after purchasing an additional 1,118 shares in the last quarter. Captrust Financial Advisors raised its holdings in Air Lease by 8.7% in the third quarter. Captrust Financial Advisors now owns 10,924 shares of the transportation company’s stock valued at $495,000 after acquiring an additional 877 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after acquiring an additional 389 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Air Lease by 6.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,665 shares of the transportation company’s stock worth $1,117,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Air Lease by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 70,984 shares of the transportation company’s stock valued at $3,250,000 after purchasing an additional 966 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AL. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and an average target price of $57.60.

Air Lease Price Performance

Shares of NYSE:AL opened at $50.90 on Monday. Air Lease Co. has a 12 month low of $38.12 and a 12 month high of $52.31. The firm has a market capitalization of $5.67 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.57 and a beta of 1.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The company’s fifty day moving average price is $46.11 and its 200 day moving average price is $46.16.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued 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 1.73%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s payout ratio is presently 19.13%.

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.