Air Lease Co. (NYSE:AL) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in Air Lease Co. (NYSE:AL) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,921 shares of the transportation company’s stock after purchasing an additional 16,281 shares during the period. Public Sector Pension Investment Board owned 0.20% of Air Lease worth $10,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Air Lease during the second quarter worth $29,000. Ensign Peak Advisors Inc boosted its position in Air Lease by 6.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 33,068 shares of the transportation company’s stock worth $1,572,000 after purchasing an additional 1,910 shares in the last quarter. Sei Investments Co. grew its stake in shares of Air Lease by 10.4% during the 2nd quarter. Sei Investments Co. now owns 314,556 shares of the transportation company’s stock worth $14,952,000 after purchasing an additional 29,653 shares during the period. Resolute Capital Asset Partners LLC increased its holdings in shares of Air Lease by 7.1% during the 2nd quarter. Resolute Capital Asset Partners LLC now owns 75,000 shares of the transportation company’s stock valued at $3,565,000 after purchasing an additional 5,000 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Air Lease by 1.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 363,787 shares of the transportation company’s stock valued at $17,291,000 after purchasing an additional 3,600 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Price Performance

NYSE:AL opened at $45.25 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The stock has a 50 day moving average of $45.27 and a two-hundred day moving average of $47.21. The firm has a market cap of $5.04 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.91 and a beta of 1.59. Air Lease Co. has a 12 month low of $33.33 and a 12 month high of $52.31.

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

Air Lease Announces Dividend

The business 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, September 6th. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

Analyst Ratings Changes

Several analysts recently commented on AL shares. Barclays dropped their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen assumed coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and an average 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.