Systematic Financial Management LP Takes Position in Air Lease Co. (NYSE:AL)

Systematic Financial Management LP acquired a new position in shares of Air Lease Co. (NYSE:AL) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,384 shares of the transportation company’s stock, valued at approximately $244,000.

Several other hedge funds have also modified their holdings of AL. American Century Companies Inc. boosted its holdings in shares of Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Air Lease in the third quarter valued at $872,000. Public Sector Pension Investment Board grew its position in Air Lease by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock valued at $10,833,000 after acquiring an additional 16,281 shares during the period. BCGM Wealth Management LLC acquired a new stake in Air Lease during the third quarter worth about $1,899,000. Finally, Hahn Capital Management LLC increased its stake in Air Lease by 20.2% during the second quarter. Hahn Capital Management LLC now owns 131,470 shares of the transportation company’s stock worth $6,249,000 after acquiring an additional 22,053 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on AL. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Price Performance

Shares of NYSE AL opened at $50.03 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease Co. has a 1-year low of $38.92 and a 1-year high of $52.31. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.56 and a beta of 1.61. The business has a 50-day moving average of $46.64 and a 200-day moving average of $46.25.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is currently 20.05%.

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.