Victory Capital Management Inc. Sells 1,212 Shares of Air Lease Co. (NYSE:AL)

Victory Capital Management Inc. cut its stake in Air Lease Co. (NYSE:AL) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,288 shares of the transportation company’s stock after selling 1,212 shares during the period. Victory Capital Management Inc.’s holdings in Air Lease were worth $2,368,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eastern Bank acquired a new position in shares of Air Lease during the 3rd quarter worth $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Air Lease in the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings in shares of Air Lease by 108.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 624 shares during the last quarter. Hilltop National Bank boosted its position in Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after buying an additional 448 shares in the last quarter. Finally, Monetary Management Group Inc. acquired a new position in shares of Air Lease during the second quarter worth $95,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AL. Barclays decreased their price target 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. JPMorgan Chase & Co. raised their target price on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price target on shares of Air Lease in a research report on Thursday. Finally, TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Price Performance

Air Lease stock opened at $50.64 on Monday. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.54 and a beta of 1.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The business has a 50-day simple moving average of $45.48 and a 200 day simple moving average of $46.10. Air Lease Co. has a 52 week low of $37.65 and a 52 week high of $52.31.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.74%. Air Lease’s payout ratio is currently 19.13%.

Air Lease Company 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.