New York State Common Retirement Fund Decreases Stock Position in Air Lease Co. (NYSE:AL)

New York State Common Retirement Fund lessened its stake in shares of Air Lease Co. (NYSE:AL) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 407,329 shares of the transportation company’s stock after selling 3,582 shares during the period. New York State Common Retirement Fund owned approximately 0.37% of Air Lease worth $19,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in Air Lease during the 3rd quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Air Lease in the third quarter worth $31,000. Venturi Wealth Management LLC increased its stake in Air Lease by 2,018.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company’s stock worth $108,000 after purchasing an additional 2,140 shares during the period. GAMMA Investing LLC increased its stake in Air Lease by 23.6% in the fourth quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company’s stock worth $111,000 after purchasing an additional 441 shares during the period. Finally, Principal Securities Inc. increased its stake in Air Lease by 11.6% in the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock worth $128,000 after purchasing an additional 276 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

AL opened at $47.65 on Friday. Air Lease Co. has a 12-month low of $39.39 and a 12-month high of $52.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The business’s fifty day simple moving average is $47.42 and its 200-day simple moving average is $46.43. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.18 and a beta of 1.59.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, equities research analysts anticipate that Air Lease Co. will post 6.17 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s payout ratio is 26.43%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and a consensus target price of $58.50.

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.