State Street Corp Has $155.18 Million Position in Air Lease Co. (NYSE:AL)

State Street Corp raised its holdings in Air Lease Co. (NYSE:AL) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,410,373 shares of the transportation company’s stock after buying an additional 25,874 shares during the period. State Street Corp owned 3.06% of Air Lease worth $155,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AL. Loomis Sayles & Co. L P acquired a new stake in Air Lease in the 3rd quarter valued at $18,289,000. Principal Financial Group Inc. increased its stake in shares of Air Lease by 42.6% during the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock worth $36,130,000 after purchasing an additional 227,274 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of Air Lease during the 2nd quarter worth about $7,885,000. Highland Peak Capital LLC acquired a new position in shares of Air Lease during the 3rd quarter worth about $7,066,000. Finally, Earnest Partners LLC increased its stake in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after purchasing an additional 155,665 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Stock Performance

Shares of AL stock opened at $49.42 on Friday. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.55 and a beta of 1.61. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50-day simple moving average of $47.23 and a 200 day simple moving average of $46.30. Air Lease Co. has a 52 week low of $39.15 and a 52 week high of $52.31.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a dividend of $0.22 per share. 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 1.78%. Air Lease’s payout ratio is presently 19.13%.

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.