Glaxis Capital Management LLC Buys New Shares in Air Lease Co. (NYSE:AL)

Glaxis Capital Management LLC purchased a new position in Air Lease Co. (NYSE:AL) in the 4th quarter, Holdings Channel.com reports. The fund purchased 31,000 shares of the transportation company’s stock, valued at approximately $1,495,000. Air Lease accounts for about 4.1% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 8th largest holding.

Several other institutional investors have also added to or reduced their stakes in AL. QRG Capital Management Inc. grew its position in shares of Air Lease by 18.6% in the 3rd quarter. QRG Capital Management Inc. now owns 7,979 shares of the transportation company’s stock worth $361,000 after buying an additional 1,253 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Air Lease by 9.2% in the third quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company’s stock worth $37,591,000 after buying an additional 69,887 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Air Lease by 4.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 43,206 shares of the transportation company’s stock valued at $1,957,000 after acquiring an additional 1,734 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Air Lease by 0.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock valued at $2,429,000 after acquiring an additional 314 shares during the last quarter. Finally, KBC Group NV raised its stake in Air Lease by 20.0% during the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock valued at $151,000 after buying an additional 557 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on AL shares. 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. UBS Group set a $50.00 price target on Air Lease in a report on Friday. Bank of America downgraded Air Lease from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Air Lease Price Performance

Shares of AL stock opened at $43.75 on Wednesday. The company’s 50-day simple moving average is $46.95 and its two-hundred day simple moving average is $46.64. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. Air Lease Co. has a one year low of $39.43 and a one year high of $52.31. The company has a market capitalization of $4.87 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.33 and a beta of 1.60.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. As a group, equities analysts anticipate that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.01%. Air Lease’s dividend payout ratio is presently 26.43%.

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.