State Street Corp Has $155.18 Million Stock Position in Air Lease Co. (NYSE:AL)

State Street Corp grew its holdings in Air Lease Co. (NYSE:AL - Free Report) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,410,373 shares of the transportation company's stock after purchasing an additional 25,874 shares during the period. State Street Corp owned approximately 3.06% of Air Lease worth $155,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Stifel Financial Corp boosted its holdings in shares of Air Lease by 7.9% during the third quarter. Stifel Financial Corp now owns 84,188 shares of the transportation company's stock worth $3,813,000 after purchasing an additional 6,136 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Air Lease during the 3rd quarter valued at $244,000. Repertoire Partners LP purchased a new position in shares of Air Lease during the 3rd quarter valued at $1,585,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Air Lease in the third quarter worth $204,000. Finally, Verition Fund Management LLC raised its holdings in shares of Air Lease by 6.5% during the third quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company's stock worth $829,000 after acquiring an additional 1,118 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Stock Performance

AL stock traded up $0.05 during midday trading on Friday, hitting $49.42. 569,356 shares of the company traded hands, compared to its average volume of 935,619. The business has a 50 day simple moving average of $47.23 and a 200-day simple moving average of $46.30. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a twelve month low of $39.15 and a twelve month high of $52.31. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.78%. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease's previous quarterly dividend of $0.21. Air Lease's dividend payout ratio (DPR) is 19.13%.

Wall Street Analyst Weigh In

AL has been the topic of several research reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Air Lease currently has an average rating of "Moderate Buy" and an average target price of $57.60.

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.