Connor Clark & Lunn Investment Management Ltd. Buys 4,322 Shares of Air Lease Co. (NYSE:AL)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Air Lease Co. (NYSE:AL) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,581 shares of the transportation company’s stock after purchasing an additional 4,322 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Air Lease were worth $1,137,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Arizona State Retirement System raised its position in Air Lease by 0.8% during the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company’s stock worth $1,480,000 after purchasing an additional 244 shares during the last quarter. Principal Securities Inc. raised its position in Air Lease by 11.6% during the 4th 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. State of New Jersey Common Pension Fund D raised its position in Air Lease by 0.7% during the 4th 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. BNP Paribas Financial Markets raised its position in Air Lease by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after purchasing an additional 389 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Air Lease by 23.6% during the 4th quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company’s stock worth $111,000 after purchasing an additional 441 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Down 0.2 %

AL stock opened at $47.40 on Friday. The stock’s 50 day simple moving average is $46.64 and its 200 day simple moving average is $46.63. Air Lease Co. has a fifty-two week low of $39.43 and a fifty-two week high of $52.31. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $5.28 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.33 and a beta of 1.60.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping 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 expect that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, March 18th. Air Lease’s dividend payout ratio is currently 26.43%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group set a $50.00 price objective on Air Lease in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Bank of America downgraded Air Lease from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.67.

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.