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

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Air Lease Co. (NYSE:AL) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. State Street Corp grew its position in Air Lease by 0.8% during the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock worth $155,180,000 after buying an additional 25,874 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Air Lease by 43.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after buying an additional 842,780 shares in the last quarter. Geode Capital Management LLC grew its position in Air Lease by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock worth $73,858,000 after buying an additional 6,190 shares in the last quarter. Reinhart Partners LLC. grew its position in Air Lease by 2.7% during the fourth quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company’s stock worth $76,451,000 after buying an additional 42,034 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Air Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,141,594 shares of the transportation company’s stock worth $55,036,000 after buying an additional 26,373 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Down 0.2 %

Shares of AL stock opened at $47.40 on Friday. The stock’s fifty day moving average price is $46.64 and its two-hundred day moving average price is $46.63. The company has a market cap of $5.28 billion, a PE ratio of 14.24, a P/E/G ratio of 1.33 and a beta of 1.60. 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.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. Equities analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.