State Street Corp Acquires 25,874 Shares of Air Lease Co. (NYSE:AL)

State Street Corp raised its holdings in Air Lease Co. (NYSE:AL) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,410,373 shares of the transportation company’s stock after purchasing an additional 25,874 shares during the period. State Street Corp’s holdings in Air Lease were worth $155,180,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AL. Stifel Financial Corp lifted its holdings in shares of Air Lease by 7.9% during the 3rd quarter. Stifel Financial Corp now owns 84,188 shares of the transportation company’s stock worth $3,813,000 after acquiring an additional 6,136 shares during the period. Systematic Financial Management LP bought a new stake in shares of Air Lease during the 3rd quarter worth approximately $244,000. Repertoire Partners LP bought a new stake in shares of Air Lease during the 3rd quarter worth approximately $1,585,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Air Lease during the 3rd quarter worth approximately $204,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Air Lease by 6.5% during the 3rd quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company’s stock worth $829,000 after acquiring an additional 1,118 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

AL stock opened at $49.42 on Friday. The company has a 50 day simple moving average of $47.23 and a 200 day simple moving average of $46.30. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.55 and a beta of 1.61. Air Lease Co. has a 1 year low of $39.15 and a 1 year high of $52.31. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 1.78%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio is currently 19.13%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AL shares. JPMorgan Chase & Co. upped their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

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.