Public Employees Retirement System of Ohio Trims Stock Holdings in Air Lease Co. (NYSE:AL)

Public Employees Retirement System of Ohio lowered its stake in shares of Air Lease Co. (NYSE:AL) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,840 shares of the transportation company’s stock after selling 3,840 shares during the period. Public Employees Retirement System of Ohio’s holdings in Air Lease were worth $1,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Air Lease during the 3rd quarter worth about $872,000. American Century Companies Inc. grew its stake 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 acquiring an additional 115,293 shares during the period. BCGM Wealth Management LLC acquired a new position in Air Lease in the 3rd quarter valued at $1,899,000. Public Sector Pension Investment Board lifted its stake in shares of Air Lease by 7.7% during the 2nd 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. Finally, Hahn Capital Management LLC boosted its holdings in shares of Air Lease by 20.2% during the second quarter. Hahn Capital Management LLC now owns 131,470 shares of the transportation company’s stock worth $6,249,000 after purchasing an additional 22,053 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

AL opened at $47.05 on Thursday. The company has a 50 day moving average of $47.48 and a two-hundred day moving average of $46.32. Air Lease Co. has a 52-week low of $39.15 and a 52-week high of $52.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The company has a market cap of $5.24 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.55 and a beta of 1.61.

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 given 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 1.87%. Air Lease’s dividend payout ratio (DPR) is 20.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AL shares. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

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.