New York State Common Retirement Fund Trims Stake in Air Lease Co. (NYSE:AL)

New York State Common Retirement Fund lowered its holdings in shares of Air Lease Co. (NYSE:AL) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,911 shares of the transportation company’s stock after selling 18,252 shares during the period. New York State Common Retirement Fund owned approximately 0.37% of Air Lease worth $18,610,000 at the end of the most recent reporting period.

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

Air Lease Trading Down 0.9 %

Shares of NYSE AL opened at $44.37 on Tuesday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. The firm’s 50 day moving average price is $44.32 and its 200-day moving average price is $46.36. Air Lease Co. has a 52-week low of $35.90 and a 52-week high of $52.31. The company has a market cap of $4.94 billion, a PE ratio of 9.50, a P/E/G ratio of 1.32 and a beta of 1.59.

Analyst Upgrades and Downgrades

AL has been the topic of several research reports. Barclays dropped their price objective 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. TD Cowen began coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.75.

Air Lease Company 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.