Canada Pension Plan Investment Board raised its stake in Air Lease Corporation (NYSE:AL) by 39.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,500 shares of the transportation company’s stock after buying an additional 2,400 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Air Lease Corporation were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Teachers Advisors LLC increased its holdings in shares of Air Lease Corporation by 115.4% during the first quarter. Teachers Advisors LLC now owns 208,387 shares of the transportation company’s stock valued at $8,075,000 after purchasing an additional 111,653 shares during the period. BlackRock Inc. increased its holdings in shares of Air Lease Corporation by 14,924.1% during the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock valued at $149,254,000 after purchasing an additional 3,826,090 shares during the period. State Street Corp increased its holdings in shares of Air Lease Corporation by 7.1% during the first quarter. State Street Corp now owns 1,329,489 shares of the transportation company’s stock valued at $51,521,000 after purchasing an additional 88,278 shares during the period. Bank of Montreal Can increased its holdings in shares of Air Lease Corporation by 61.5% during the second quarter. Bank of Montreal Can now owns 6,228 shares of the transportation company’s stock valued at $233,000 after purchasing an additional 2,372 shares during the period. Finally, Aperio Group LLC increased its holdings in shares of Air Lease Corporation by 38.3% during the second quarter. Aperio Group LLC now owns 69,372 shares of the transportation company’s stock valued at $2,592,000 after purchasing an additional 19,220 shares during the period. Institutional investors own 92.11% of the company’s stock.

AL has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Air Lease Corporation from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Bank of America Corporation set a $47.00 target price on Air Lease Corporation and gave the stock a “hold” rating in a report on Thursday, October 19th. Zacks Investment Research lowered Air Lease Corporation from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Cowen and Company lifted their target price on Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Credit Suisse Group lifted their target price on Air Lease Corporation from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $48.78.

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In related news, EVP Jie Chen sold 4,000 shares of Air Lease Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.00, for a total value of $172,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex A. Khatibi sold 11,000 shares of Air Lease Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.00, for a total value of $440,000.00. Following the completion of the transaction, the executive vice president now directly owns 142,786 shares in the company, valued at approximately $5,711,440. The disclosure for this sale can be found here. Insiders sold a total of 319,000 shares of company stock worth $13,183,240 in the last three months. 9.76% of the stock is currently owned by company insiders.

Air Lease Corporation (NYSE AL) opened at $41.59 on Wednesday. The firm has a market capitalization of $4,281.37, a PE ratio of 11.88, a P/E/G ratio of 1.24 and a beta of 1.83. Air Lease Corporation has a 12 month low of $34.21 and a 12 month high of $45.15. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06.

Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. Air Lease Corporation had a return on equity of 10.87% and a net margin of 25.67%. Air Lease Corporation’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. analysts expect that Air Lease Corporation will post 3.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. This is a boost from Air Lease Corporation’s previous quarterly dividend of $0.08. Air Lease Corporation’s dividend payout ratio (DPR) is currently 8.60%.

Air Lease Corporation Company Profile

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

Institutional Ownership by Quarter for Air Lease Corporation (NYSE:AL)

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