Air Lease Co. (NYSE:AL) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its position in Air Lease Co. (NYSE:AL) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,721 shares of the transportation company’s stock after selling 8,200 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of Air Lease worth $9,951,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AL. American International Group Inc. increased its position in shares of Air Lease by 562.9% during the first quarter. American International Group Inc. now owns 5,641 shares of the transportation company’s stock worth $290,000 after acquiring an additional 4,790 shares during the last quarter. Comerica Bank raised its position in shares of Air Lease by 32.0% in the 1st quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock valued at $7,115,000 after purchasing an additional 33,524 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Air Lease during the 1st quarter valued at approximately $255,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Air Lease during the first quarter worth approximately $1,302,000. Finally, Boston Partners raised its holdings in Air Lease by 239.9% in the first quarter. Boston Partners now owns 307,657 shares of the transportation company’s stock valued at $15,827,000 after acquiring an additional 217,153 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AL shares. JPMorgan Chase & Co. boosted their target price on shares of 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 restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. Finally, Barclays reduced their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One equities research 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 a consensus price target of $57.60.

Air Lease Price Performance

Shares of NYSE:AL opened at $50.71 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. The firm has a 50-day simple moving average of $45.91 and a 200 day simple moving average of $46.16. Air Lease Co. has a fifty-two week low of $37.75 and a fifty-two week high of $52.31. The company has a market cap of $5.65 billion, a PE ratio of 11.55, a P/E/G ratio of 1.61 and a beta of 1.59.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.22 dividend. This is an increase 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 dividend yield of 1.74%. Air Lease’s dividend payout ratio (DPR) is 19.13%.

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.