Wilmington Savings Fund Society FSB Invests $31,000 in Air Lease Co. (NYSE:AL)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease Co. (NYSE:AL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 687 shares of the transportation company’s stock, valued at approximately $31,000.

Several other institutional investors have also recently bought and sold shares of AL. Eastern Bank acquired a new stake in shares of Air Lease in the third quarter valued at $27,000. Altshuler Shaham Ltd bought a new stake in Air Lease during the 2nd quarter worth about $29,000. GAMMA Investing LLC increased its position in Air Lease by 55.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock valued at $85,000 after acquiring an additional 667 shares in the last quarter. KBC Group NV raised its stake in shares of Air Lease by 20.0% in the third quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after acquiring an additional 557 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Air Lease by 12.6% during the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

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

Air Lease Stock Performance

Shares of Air Lease stock opened at $48.57 on Monday. The firm has a fifty day moving average of $47.75 and a two-hundred day moving average of $46.34. 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 stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.61. Air Lease Co. has a 52 week low of $39.15 and a 52 week high of $52.31.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 12th. Air Lease’s payout ratio is presently 20.05%.

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.