Vanguard Group Inc. grew its position in Air Lease Corporation (NYSE:AL) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,550,212 shares of the transportation company’s stock after purchasing an additional 95,981 shares during the period. Vanguard Group Inc. owned about 7.32% of Air Lease Corporation worth $282,076,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of AL. BlackRock Inc. boosted its stake in shares of Air Lease Corporation by 14,924.1% in the 1st 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 in the last quarter. Boston Partners boosted its stake in shares of Air Lease Corporation by 70.7% in the 2nd quarter. Boston Partners now owns 8,494,727 shares of the transportation company’s stock valued at $317,363,000 after purchasing an additional 3,519,693 shares in the last quarter. EJF Capital LLC acquired a new stake in shares of Air Lease Corporation in the 1st quarter valued at $8,126,000. Dimensional Fund Advisors LP boosted its stake in shares of Air Lease Corporation by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,591,941 shares of the transportation company’s stock valued at $177,938,000 after purchasing an additional 197,806 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Air Lease Corporation by 225.9% in the 2nd quarter. LSV Asset Management now owns 266,183 shares of the transportation company’s stock valued at $9,944,000 after purchasing an additional 184,500 shares in the last quarter. Institutional investors own 92.11% of the company’s stock.
Air Lease Corporation (NYSE AL) opened at 43.21 on Wednesday. The company’s 50-day moving average is $40.85 and its 200 day moving average is $38.85. The firm has a market cap of $4.46 billion, a P/E ratio of 12.58 and a beta of 1.79. Air Lease Corporation has a 12 month low of $27.97 and a 12 month high of $44.56.
Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. Air Lease Corporation’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. Equities research analysts expect that Air Lease Corporation will post $3.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Wednesday, September 13th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.
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In related news, EVP Alex A. Khatibi sold 11,000 shares of the firm’s 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 sale, the executive vice president now directly owns 142,786 shares of the company’s stock, valued at $5,711,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marc H. Baer sold 7,562 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total value of $300,362.64. Following the completion of the sale, the executive vice president now directly owns 132,001 shares in the company, valued at $5,243,079.72. The disclosure for this sale can be found here. Insiders sold 32,562 shares of company stock worth $1,342,363 over the last ninety days. 9.76% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Bank of America Corporation downgraded shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Wednesday, August 9th. Royal Bank Of Canada boosted their target price on shares of Air Lease Corporation from $79.00 to $80.00 and gave the company a “top pick” rating in a research note on Friday, September 29th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, Cowen and Company boosted their target price on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $49.75.
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.
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