Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Air Lease Co. (NYSE:AL)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Air Lease Co. (NYSE:AL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,259 shares of the transportation company’s stock, valued at approximately $872,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP raised its holdings in Air Lease by 2.5% during the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock valued at $130,232,000 after buying an additional 70,299 shares during the last quarter. American Century Companies Inc. raised its holdings in Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after purchasing an additional 115,293 shares in the last quarter. Earnest Partners LLC raised its holdings in Air Lease by 7.4% in 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Air Lease by 5.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock worth $100,743,000 after purchasing an additional 101,568 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Air Lease by 0.7% in the 3rd quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after purchasing an additional 12,441 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on AL. JPMorgan Chase & Co. upped their price objective 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 decreased their price objective 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, The Goldman Sachs Group restated a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Air Lease Stock Down 1.0 %

NYSE:AL opened at $50.71 on Thursday. The firm’s 50-day moving average price is $45.79 and its 200-day moving average price is $46.13. The company has a market capitalization of $5.65 billion, a PE ratio of 11.67, a P/E/G ratio of 1.61 and a beta of 1.59. 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 1-year low of $37.75 and a 1-year high of $52.31.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Air Lease’s dividend payout ratio is currently 19.13%.

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.