Jacobs Levy Equity Management Inc. Invests $204,000 in Air Lease Co. (NYSE:AL)

Jacobs Levy Equity Management Inc. bought a new position in shares of Air Lease Co. (NYSE:AL) during the third quarter, HoldingsChannel reports. The institutional investor bought 4,509 shares of the transportation company’s stock, valued at approximately $204,000.

A number of other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in shares of Air Lease by 0.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after purchasing an additional 314 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock valued at $157,000 after acquiring an additional 389 shares in the last quarter. CWM LLC raised its holdings in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after acquiring an additional 440 shares in the last quarter. KBC Group NV raised its holdings in Air Lease by 20.0% in the third quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 557 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Air Lease by 6.6% in the third quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock valued at $434,000 after acquiring an additional 597 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Down 0.2 %

AL stock opened at $50.11 on Wednesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease Co. has a 1-year low of $38.92 and a 1-year high of $52.31. The firm has a fifty day moving average price of $46.86 and a two-hundred day moving average price of $46.25. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.22 per share. This is a positive change 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 1.76%. Air Lease’s payout ratio is presently 20.05%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AL. The Goldman Sachs Group reaffirmed 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. upped their price target on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. One 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.60.

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.