Artisan Partners Limited Partnership Lowers Stake in Air Lease Corporation (AL)

Artisan Partners Limited Partnership lessened its holdings in Air Lease Corporation (NYSE:AL) by 3.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,737,736 shares of the transportation company’s stock after selling 321,530 shares during the period. Artisan Partners Limited Partnership owned about 8.47% of Air Lease Corporation worth $326,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Israel Discount Bank of New York purchased a new stake in shares of Air Lease Corporation in the 1st quarter worth approximately $100,000. Fiduciary Trust Co. purchased a new stake in shares of Air Lease Corporation in the 2nd quarter worth approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after purchasing an additional 331 shares during the period. Bank of Montreal Can lifted its position in shares of Air Lease Corporation by 0.9% in the 1st quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after purchasing an additional 35 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Air Lease Corporation by 14.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock worth $183,000 after purchasing an additional 621 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.

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In other news, EVP Marc H. Baer sold 7,562 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total transaction of $300,362.64. Following the completion of the sale, the executive vice president now owns 132,001 shares in the company, valued at approximately $5,243,079.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,562 shares of company stock valued at $1,170,363 in the last 90 days. Insiders own 9.76% of the company’s stock.

A number of research firms recently commented on AL. Morgan Stanley increased their target price on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. BidaskClub raised shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Bank of America Corporation cut shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research report on Wednesday, August 9th. Finally, Cowen and Company increased 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 report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $45.25.

Air Lease Corporation (AL) traded up 0.76% during midday trading on Friday, reaching $39.97. 549,998 shares of the company were exchanged. The company has a market capitalization of $4.13 billion, a PE ratio of 11.64 and a beta of 1.77. The firm has a 50-day moving average price of $40.02 and a 200-day moving average price of $38.46. Air Lease Corporation has a 52 week low of $27.05 and a 52 week high of $43.39.

Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The company had revenue of $380.59 million during the quarter, compared to the consensus estimate of $375.14 million. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Air Lease Corporation will post $3.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 0.75%. Air Lease Corporation’s dividend payout ratio is presently 8.70%.

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

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