Huntington National Bank Sells 420 Shares of Air Lease Co. (NYSE:AL)

Huntington National Bank reduced its position in shares of Air Lease Co. (NYSE:AL) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,972 shares of the transportation company’s stock after selling 420 shares during the period. Huntington National Bank owned about 0.23% of Air Lease worth $11,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AL. Eastern Bank bought a new position in shares of Air Lease during the 3rd quarter worth approximately $27,000. Altshuler Shaham Ltd bought a new position in Air Lease in the second quarter valued at $29,000. GAMMA Investing LLC increased its stake in Air Lease by 108.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after buying an additional 624 shares during the last quarter. Hilltop National Bank lifted its position in Air Lease by 33.8% during the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $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 2nd quarter worth about $95,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Performance

AL opened at $49.00 on Friday. 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 Co. has a 12-month low of $37.59 and a 12-month high of $52.31. The business has a 50 day moving average of $44.72 and a 200-day moving average of $46.22. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.44 and a beta of 1.59.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.80%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, December 12th. Air Lease’s payout ratio is 19.13%.

Analyst Upgrades and Downgrades

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

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.