Air Lease Co. (NYSE:AL) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Air Lease Co. (NYSE:AL) by 21.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,451 shares of the transportation company’s stock after purchasing 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 Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AL. Eastern Bank acquired a new position in shares of Air Lease in the third quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Air Lease in the third quarter valued at approximately $31,000. GAMMA Investing LLC increased its holdings in shares of Air Lease by 23.6% in the fourth quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company’s stock valued at $111,000 after purchasing an additional 441 shares during the period. Principal Securities Inc. grew its holdings 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 acquiring an additional 276 shares during the period. Finally, KBC Group NV grew its holdings in Air Lease by 20.0% during the third quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after acquiring an additional 557 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AL shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and an average price target of $58.50.

Air Lease Trading Down 5.9 %

Shares of AL stock opened at $47.65 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $5.31 billion, a PE ratio of 14.31, a P/E/G ratio of 1.18 and a beta of 1.59. Air Lease Co. has a 1-year low of $39.39 and a 1-year high of $52.31. The business’s fifty day moving average price is $47.42 and its 200 day moving average price is $46.43.

Air Lease (NYSE:AL) last announced its quarterly earnings results 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%. As a group, sell-side analysts forecast that Air Lease Co. will post 6.17 EPS for the current fiscal year.

Air Lease Announces Dividend

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

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.