State Board of Administration of Florida Retirement System Has $5.41 Million Stock Position in Air Lease Co. (NYSE:AL)

State Board of Administration of Florida Retirement System reduced its position in shares of Air Lease Co. (NYSE:AL) by 3.2% in the 3rd quarter, Holdings Channel reports. The firm owned 137,548 shares of the transportation company’s stock after selling 4,501 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Air Lease were worth $5,411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Air Lease by 2.2% during the second quarter. Vanguard Group Inc. now owns 9,644,555 shares of the transportation company’s stock valued at $402,564,000 after purchasing an additional 205,093 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Air Lease by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,632 shares of the transportation company’s stock worth $246,208,000 after buying an additional 51,810 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Air Lease by 24.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,317,037 shares of the transportation company’s stock worth $138,453,000 after buying an additional 646,278 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Air Lease by 8.4% during the second quarter. Wells Fargo & Company MN now owns 2,435,163 shares of the transportation company’s stock worth $101,644,000 after buying an additional 189,139 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Air Lease by 0.3% during the second quarter. FMR LLC now owns 2,381,556 shares of the transportation company’s stock worth $99,406,000 after buying an additional 6,627 shares during the last quarter. Institutional investors and hedge funds own 89.55% of the company’s stock.

In other Air Lease news, EVP Alex A. Khatibi sold 15,625 shares of the company’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $45.50, for a total transaction of $710,937.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.46% of the company’s stock.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a research note on Monday, January 10th. Barclays boosted their target price on shares of Air Lease from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 10th. Finally, Credit Suisse Group boosted their price objective on shares of Air Lease from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $54.60.

Shares of Air Lease stock opened at $44.50 on Friday. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 2.68. Air Lease Co. has a twelve month low of $36.52 and a twelve month high of $52.96. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.63 and a beta of 2.02. The company’s fifty day moving average is $44.43 and its 200 day moving average is $42.29.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, November 4th. The transportation company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.18. The business had revenue of $524.50 million for the quarter, compared to analysts’ expectations of $484.58 million. Air Lease had a net margin of 19.99% and a return on equity of 6.19%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. As a group, equities analysts anticipate that Air Lease Co. will post 3.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 5th. Shareholders of record on Friday, December 17th were given a dividend of $0.185 per share. The ex-dividend date was Thursday, December 16th. This represents a $0.74 dividend on an annualized basis and a yield of 1.66%. This is a boost from Air Lease’s previous quarterly dividend of $0.16. Air Lease’s dividend payout ratio is 22.70%.

About Air Lease

Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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