Air Lease Co. (NYSE:AL) Shares Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC grew its holdings in shares of Air Lease Co. (NYSE:AL) by 230.0% during the 4th quarter, HoldingsChannel reports. The firm owned 66,000 shares of the transportation company’s stock after buying an additional 46,000 shares during the period. Zweig DiMenna Associates LLC’s holdings in Air Lease were worth $3,182,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. State Street Corp grew its holdings in Air Lease by 0.8% in the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock valued at $155,180,000 after buying an additional 25,874 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Air Lease by 2.5% during the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after acquiring an additional 70,299 shares during the period. Earnest Partners LLC boosted its position in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock valued at $107,859,000 after acquiring an additional 155,665 shares during the last quarter. Copeland Capital Management LLC grew its holdings in shares of Air Lease by 0.7% in the third quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock valued at $82,926,000 after purchasing an additional 12,441 shares during the period. Finally, Geode Capital Management LLC increased its position in Air Lease by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock worth $73,858,000 after purchasing an additional 6,190 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Down 0.1 %

Shares of NYSE AL opened at $47.25 on Friday. Air Lease Co. has a 52-week low of $39.35 and a 52-week high of $52.31. The business’s 50 day moving average is $48.67 and its two-hundred day moving average is $46.49. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.02 and a beta of 1.61. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. 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 dividend payout ratio (DPR) is 20.05%.

Wall Street Analysts Forecast Growth

AL has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.60.

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.