Air Lease Co. (NYSE:AL) Stock Holdings Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Air Lease Co. (NYSE:AL) by 40.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,472 shares of the transportation company’s stock after selling 28,652 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Air Lease were worth $1,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AL. Vanguard Group Inc. boosted its position in shares of Air Lease by 23.6% during the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after buying an additional 2,404,649 shares during the period. Maryland State Retirement & Pension System lifted its position in Air Lease by 459.7% in the first quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock worth $2,198,000 after purchasing an additional 37,207 shares during the period. BNP Paribas Financial Markets lifted its position in Air Lease by 812.8% in the fourth quarter. BNP Paribas Financial Markets now owns 25,740 shares of the transportation company’s stock worth $1,080,000 after purchasing an additional 22,920 shares during the period. Park West Asset Management LLC acquired a new stake in Air Lease in the fourth quarter worth approximately $3,775,000. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in Air Lease in the first quarter worth approximately $5,144,000. 94.59% of the stock is owned by institutional investors.

Air Lease Price Performance

Shares of NYSE:AL opened at $45.80 on Friday. The company’s fifty day moving average is $45.34 and its two-hundred day moving average is $47.17. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31. The company has a market cap of $5.10 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.59.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The firm had revenue of $667.29 million for the quarter, compared to analyst estimates of $687.93 million. Equities analysts expect that Air Lease Co. will post 6.68 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, September 6th. Air Lease’s dividend payout ratio (DPR) is currently 16.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Barclays cut their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

About Air Lease

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.