CIBC Asset Management Inc Increases Stake in Air Lease Co. (NYSE:AL)

CIBC Asset Management Inc grew its stake in Air Lease Co. (NYSE:AL) by 21.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,451 shares of the transportation company’s stock after buying an additional 1,842 shares during the quarter. CIBC Asset Management Inc’s holdings in Air Lease were worth $504,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in shares of Air Lease by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 855,240 shares of the transportation company’s stock valued at $41,230,000 after buying an additional 25,193 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in Air Lease by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company’s stock worth $2,098,000 after purchasing an additional 318 shares during the last quarter. Principal Securities Inc. lifted its stake in Air Lease by 11.6% during the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock worth $128,000 after purchasing an additional 276 shares during the last quarter. Rhumbline Advisers lifted its stake in Air Lease by 0.8% during the fourth quarter. Rhumbline Advisers now owns 256,016 shares of the transportation company’s stock worth $12,342,000 after purchasing an additional 1,938 shares during the last quarter. Finally, Stanley Laman Group Ltd. lifted its stake in Air Lease by 1.8% during the fourth quarter. Stanley Laman Group Ltd. now owns 91,754 shares of the transportation company’s stock worth $4,423,000 after purchasing an additional 1,645 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

Shares of NYSE AL opened at $47.65 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a twelve month low of $39.39 and a twelve month high of $52.31. The stock has a 50 day moving average of $47.42 and a two-hundred day moving average of $46.43. The stock has a market cap of $5.31 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.18 and a beta of 1.59.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, research analysts forecast that Air Lease Co. will post 6.17 earnings per share for the current year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, March 18th. Air Lease’s dividend payout ratio is currently 26.43%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AL shares. The Goldman Sachs Group restated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average target price of $58.50.

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.