Klingenstein Fields & Co. LLC Sells 74,190 Shares of Air Lease Corporation (AL)

Klingenstein Fields & Co. LLC lessened its stake in shares of Air Lease Corporation (NYSE:AL) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 844,909 shares of the transportation company’s stock after selling 74,190 shares during the period. Air Lease Corporation comprises about 1.4% of Klingenstein Fields & Co. LLC’s portfolio, making the stock its 19th largest holding. Klingenstein Fields & Co. LLC owned 0.82% of Air Lease Corporation worth $36,010,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AL. Israel Discount Bank of New York lifted its holdings in shares of Air Lease Corporation by 7.7% in the second quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 200 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Air Lease Corporation in the second quarter valued at $111,000. QS Investors LLC lifted its holdings in shares of Air Lease Corporation by 0.6% in the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Air Lease Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 331 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Air Lease Corporation by 14.5% in the second quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after purchasing an additional 621 shares in the last quarter. Institutional investors own 92.20% of the company’s stock.

In other Air Lease Corporation news, Director Jie Chen sold 2,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total transaction of $87,640.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marc H. Baer sold 7,562 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total transaction of $300,362.64. Following the transaction, 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 have sold 34,562 shares of company stock worth $1,430,003 over the last three months. Company insiders own 9.76% of the company’s stock.

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AL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Barclays PLC initiated coverage on Air Lease Corporation in a report on Monday, July 10th. They set an “overweight” rating and a $48.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating and set a $80.00 price objective on shares of Air Lease Corporation in a report on Thursday. Bank of America Corporation lowered Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Wednesday, August 9th. Finally, BidaskClub lowered Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Air Lease Corporation has an average rating of “Buy” and a consensus price target of $50.43.

Shares of Air Lease Corporation (NYSE:AL) traded down $0.26 during trading hours on Monday, hitting $43.74. The company had a trading volume of 91,035 shares, compared to its average volume of 620,988. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.61. Air Lease Corporation has a twelve month low of $30.76 and a twelve month high of $45.15. The stock has a market capitalization of $4,540.00, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.32 and a beta of 1.83.

Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The business had revenue of $380.59 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. sell-side analysts anticipate that Air Lease Corporation will post 3.44 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Air Lease Corporation (NYSE:AL)

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