State of New Jersey Common Pension Fund D Purchases 1,734 Shares of Air Lease Co. (NYSE:AL)

State of New Jersey Common Pension Fund D lifted its position in Air Lease Co. (NYSE:AL) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,206 shares of the transportation company’s stock after purchasing an additional 1,734 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Air Lease were worth $1,957,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AL. Vanguard Group Inc. boosted its position in Air Lease by 23.6% during the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after buying an additional 2,404,649 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Air Lease by 240.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock valued at $7,119,000 after buying an additional 97,703 shares during the period. American Century Companies Inc. boosted its position in Air Lease by 5.0% during the second quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after buying an additional 115,293 shares during the period. Comerica Bank boosted its holdings in shares of Air Lease by 32.0% during the first quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock worth $7,115,000 after purchasing an additional 33,524 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Air Lease by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock worth $10,833,000 after purchasing an additional 16,281 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Shares of AL opened at $48.47 on Monday. 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 Co. has a one year low of $37.59 and a one year high of $52.31. The company has a 50-day simple moving average of $44.84 and a two-hundred day simple moving average of $46.14. The firm has a market capitalization of $5.40 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.82%. Air Lease’s dividend payout ratio (DPR) is 19.13%.

Wall Street Analyst Weigh In

AL has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price 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. Barclays dropped their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen initiated coverage on shares of Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.75.

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.