GAMMA Investing LLC Raises Stock Position in Air Lease Co. (NYSE:AL)

GAMMA Investing LLC lifted its stake in shares of Air Lease Co. (NYSE:AL) by 23.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,309 shares of the transportation company’s stock after buying an additional 441 shares during the quarter. GAMMA Investing LLC’s holdings in Air Lease were worth $111,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new position in Air Lease during the third quarter valued at approximately $27,000. Altshuler Shaham Ltd purchased a new position in Air Lease during the second quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in Air Lease during the third quarter valued at approximately $31,000. KBC Group NV increased its holdings in Air Lease by 20.0% during the third 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 period. Finally, BNP Paribas Financial Markets increased its holdings in Air Lease by 12.6% during the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock valued at $157,000 after buying an additional 389 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Trading Down 4.6 %

NYSE:AL opened at $45.08 on Friday. Air Lease Co. has a 12 month low of $39.15 and a 12 month high of $52.31. The firm has a fifty day simple moving average of $48.80 and a 200-day simple moving average of $46.56. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $5.02 billion, a P/E ratio of 10.27, a PEG ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were paid a dividend of $0.22 per share. 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 1.95%. The ex-dividend date of this dividend was Thursday, December 12th. Air Lease’s payout ratio is presently 20.05%.

Wall Street Analysts Forecast Growth

AL has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. raised their target price on shares of 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.