JPMorgan Chase & Co. Increases Air Lease (NYSE:AL) Price Target to $56.00

Air Lease (NYSE:AL) had its price target lifted by JPMorgan Chase & Co. from $52.00 to $56.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the stock. TD Cowen assumed coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. Barclays lowered their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and an average target price of $55.75.

Air Lease Stock Performance

Shares of Air Lease stock opened at $48.47 on Tuesday. The firm has a fifty day moving average of $44.84 and a two-hundred day moving average of $46.20. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.47 and a beta of 1.59. Air Lease has a 52 week low of $37.59 and a 52 week high of $52.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43.

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 given a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is currently 19.13%.

Hedge Funds Weigh In On Air Lease

A number of large investors have recently added to or reduced their stakes in AL. Janney Montgomery Scott LLC increased its holdings in Air Lease by 23.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the transportation company’s stock worth $748,000 after purchasing an additional 2,765 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in Air Lease during the 1st quarter worth about $915,000. Envestnet Portfolio Solutions Inc. increased its holdings in Air Lease by 1.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after purchasing an additional 291 shares in the last quarter. SG Americas Securities LLC bought a new position in Air Lease during the 1st quarter worth about $131,000. Finally, Sei Investments Co. increased its holdings in Air Lease by 1.3% during the 1st quarter. Sei Investments Co. now owns 284,903 shares of the transportation company’s stock worth $14,655,000 after purchasing an additional 3,712 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

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.