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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Eastern Bank purchased a new stake in Air Lease in the third quarter worth approximately $27,000. Altshuler Shaham Ltd purchased a new stake in Air Lease in the second quarter worth approximately $29,000. GAMMA Investing LLC boosted its holdings in Air Lease by 108.1% in the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after purchasing an additional 624 shares during the last quarter. Hilltop National Bank boosted its holdings in Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after purchasing an additional 448 shares during the last quarter. Finally, Monetary Management Group Inc. purchased a new stake in Air Lease in the second quarter worth approximately $95,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Down 1.1 %

AL opened at $48.47 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Co. has a fifty-two week low of $37.59 and a fifty-two week high of $52.31. The firm’s fifty day moving average is $44.84 and its 200 day moving average is $46.14. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a dividend of $0.22 per share. This is a boost from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.82%. Air Lease’s payout ratio is 19.13%.

Wall Street Analyst Weigh In

AL has been the topic of several research reports. JPMorgan Chase & Co. raised 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 price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, TD Cowen began coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Air Lease 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.