8.2% Stake of Air Lease Corp (AL) Maintained by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership

disclosed that they own a 8.2% stake in Air Lease Corp (NYSE:AL) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, February 7th. The investor owns 8,418,235 shares of the stock valued at about $385,302,616. The reporting parties listed on the disclosure included Artisan Partners Limited Partnership, Artisan Investments GP LLC, Artisan Partners Holdings LP, Artisan Partners Asset Management Inc and Artisan Partners Funds, Inc. The filing is available through the SEC website at this hyperlink.

Artisan Partners Limited Partnership

provided the following explanation of their ownership:

Several other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners increased its position in Air Lease by 2.0% during the 3rd quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after purchasing an additional 169,454 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Air Lease by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,550,212 shares of the transportation company’s stock valued at $282,076,000 after buying an additional 95,981 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of Air Lease by 3.1% during the 3rd quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock valued at $100,970,000 after buying an additional 70,200 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Air Lease by 0.3% during the 3rd quarter. Royce & Associates LP now owns 1,382,300 shares of the transportation company’s stock valued at $58,914,000 after buying an additional 4,500 shares in the last quarter. Finally, State Street Corp boosted its stake in Air Lease by 1.5% in the 2nd quarter. State Street Corp now owns 1,349,037 shares of the transportation company’s stock worth $50,398,000 after purchasing an additional 19,548 shares in the last quarter. Hedge funds and other institutional investors own 91.42% of the company’s stock.

Air Lease Corp (NYSE AL) traded down $0.03 during midday trading on Wednesday, hitting $45.77. The stock had a trading volume of 26,639 shares, compared to its average volume of 608,402. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53. The company has a market cap of $4,730.00, a P/E ratio of 13.16, a P/E/G ratio of 0.70 and a beta of 1.70. Air Lease Corp has a 52-week low of $34.42 and a 52-week high of $50.70.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $376.77 million during the quarter, compared to the consensus estimate of $374.61 million. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. Air Lease’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. equities analysts expect that Air Lease Corp will post 3.46 EPS for the current fiscal year.

Several research firms have issued reports on AL. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Bank of America set a $47.00 price target on shares of Air Lease and gave the company a “hold” rating in a research report on Thursday, October 19th. Citigroup assumed coverage on shares of Air Lease in a research report on Friday, December 8th. They set a “neutral” rating and a $46.00 price target for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $80.00 price target on shares of Air Lease in a research report on Thursday, November 2nd. Finally, UBS Group increased their target price on shares of Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.40.

In other Air Lease news, Director Jie Chen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.81, for a total value of $195,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $43.88, for a total value of $438,800.00. Following the completion of the sale, the executive vice president now directly owns 163,824 shares of the company’s stock, valued at approximately $7,188,597.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,000 shares of company stock valued at $16,145,030. 9.76% of the stock is owned by corporate insiders.

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Air Lease 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 (NYSE:AL)

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