Harbor Capital Advisors Inc. Increases Stock Position in Air Lease Co. (NYSE:AL)

Harbor Capital Advisors Inc. grew its position in shares of Air Lease Co. (NYSE:AL) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 162,685 shares of the transportation company’s stock after buying an additional 1,558 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Air Lease were worth $7,843,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Eastern Bank purchased a new position in Air Lease during the 3rd quarter valued at approximately $27,000. Altshuler Shaham Ltd purchased a new position in shares of Air Lease in the second quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new stake in Air Lease in the third quarter worth $31,000. GAMMA Investing LLC raised its stake in Air Lease by 55.5% during the third quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 667 shares in the last quarter. Finally, KBC Group NV lifted its position 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 purchasing an additional 557 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on AL shares. JPMorgan Chase & Co. boosted their target price 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. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Trading Down 4.2 %

Shares of NYSE AL traded down $1.97 during midday trading on Friday, hitting $45.29. The company’s stock had a trading volume of 247,546 shares, compared to its average volume of 547,075. The firm has a market cap of $5.04 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. Air Lease Co. has a 12-month low of $39.15 and a 12-month high of $52.31. 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 business’s 50 day moving average is $48.80 and its two-hundred day moving average is $46.56.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.94%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, December 12th. Air Lease’s payout ratio is 20.05%.

Air Lease Profile

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.