Copeland Capital Management LLC Sells 53,978 Shares of Air Lease Co. (NYSE:AL)

Copeland Capital Management LLC cut its position in shares of Air Lease Co. (NYSE:AL) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,777,016 shares of the transportation company’s stock after selling 53,978 shares during the quarter. Air Lease accounts for 1.6% of Copeland Capital Management LLC’s portfolio, making the stock its 10th largest position. Copeland Capital Management LLC owned about 1.60% of Air Lease worth $85,670,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Air Lease by 0.8% during the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock worth $155,180,000 after acquiring an additional 25,874 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Air Lease by 2.5% during the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after acquiring an additional 70,299 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Air Lease by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock worth $73,858,000 after acquiring an additional 6,190 shares in the last quarter. Reinhart Partners LLC. boosted its stake in shares of Air Lease by 2.7% during the 4th quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company’s stock worth $76,451,000 after acquiring an additional 42,034 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Air Lease by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,221 shares of the transportation company’s stock worth $50,508,000 after acquiring an additional 36,596 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Trading Down 0.6 %

Shares of AL opened at $46.22 on Friday. Air Lease Co. has a 12-month low of $39.35 and a 12-month high of $52.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.00 and a beta of 1.61. The stock’s 50-day moving average price is $48.36 and its 200 day moving average price is $46.41.

Air Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.90%. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, December 12th. Air Lease’s payout ratio is currently 20.05%.

Analysts Set New Price Targets

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

Air Lease 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.