Air Lease Co. (NYSE:AL) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in Air Lease Co. (NYSE:AL) by 0.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,234,247 shares of the transportation company’s stock after buying an additional 4,895 shares during the period. Thrivent Financial for Lutherans’ holdings in Air Lease were worth $101,189,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Eastern Bank bought a new position in Air Lease during the 3rd quarter worth $27,000. Altshuler Shaham Ltd bought a new position in shares of Air Lease during the second quarter worth about $29,000. GAMMA Investing LLC increased its holdings in shares of Air Lease by 108.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after acquiring an additional 624 shares during the period. Hilltop National Bank lifted its position in Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 448 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in Air Lease in the 2nd quarter worth about $95,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

AL opened at $48.47 on Monday. Air Lease Co. has a 1-year low of $37.59 and a 1-year high of $52.31. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59. The business has a 50 day moving average price of $44.84 and a two-hundred day moving average price of $46.14. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.88 annualized dividend and a yield of 1.82%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio (DPR) is currently 19.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. TD Cowen initiated coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

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.