Massachusetts Financial Services Co. MA Has $52.50 Million Stake in Air Lease Co. (NYSE:AL)

Massachusetts Financial Services Co. MA reduced its stake in shares of Air Lease Co. (NYSE:AL) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,159,174 shares of the transportation company’s stock after selling 32,646 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Air Lease were worth $52,499,000 at the end of the most recent quarter.

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

Air Lease Price Performance

Shares of NYSE:AL opened at $50.64 on Monday. Air Lease Co. has a twelve month low of $37.65 and a twelve month high of $52.31. The stock’s 50 day moving average is $45.48 and its 200-day moving average is $46.10. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.54 and a beta of 1.59.

Air Lease Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AL shares. TD Cowen began coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price target on shares of Air Lease in a report on Thursday. 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.60.

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.