Dorsey & Whitney Trust CO LLC lessened its holdings in shares of Air Lease Corporation (NYSE:AL) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,956 shares of the transportation company’s stock after selling 186 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Air Lease Corporation were worth $223,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in AL. Artisan Partners Limited Partnership lifted its stake in Air Lease Corporation by 1.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 9,059,266 shares of the transportation company’s stock valued at $351,047,000 after acquiring an additional 154,423 shares in the last quarter. Boston Partners lifted its stake in 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 acquiring an additional 3,519,693 shares in the last quarter. Vanguard Group Inc. lifted its stake in Air Lease Corporation by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 7,454,231 shares of the transportation company’s stock valued at $288,852,000 after acquiring an additional 294,544 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 acquiring an additional 197,806 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in 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 acquiring an additional 3,826,090 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.
Air Lease Corporation (AL) opened at 39.97 on Friday. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 11.64 and a beta of 1.77. Air Lease Corporation has a 52-week low of $27.05 and a 52-week high of $43.39. The firm’s 50 day moving average price is $40.02 and its 200 day moving average price is $38.46.
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 the Zacks’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The business had revenue of $380.59 million during the quarter, compared to analyst estimates of $375.14 million. During the same quarter in the prior year, the business posted $1.39 EPS. Air Lease Corporation’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Air Lease Corporation will post $3.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be paid a $0.075 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 0.75%. Air Lease Corporation’s payout ratio is presently 8.70%.
In other 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 transaction of $440,000.00. Following the completion of the transaction, the executive vice president now owns 142,786 shares in the company, valued at $5,711,440. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the executive vice president now owns 132,001 shares of the company’s stock, valued at approximately $5,243,079.72. The disclosure for this sale can be found here. Insiders sold a total of 28,562 shares of company stock valued at $1,170,363 in the last quarter. 9.76% of the stock is currently owned by company insiders.
Several equities research analysts have commented on AL shares. Zacks Investment Research cut Air Lease Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. BidaskClub upgraded Air Lease Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Barclays PLC started coverage on Air Lease Corporation in a research note on Monday, July 10th. They issued an “overweight” rating and a $48.00 target price on the stock. Cowen and Company boosted their target price on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, Morgan Stanley boosted their target price on Air Lease Corporation from $40.00 to $42.00 in a research note on Tuesday, July 4th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Air Lease Corporation presently has a consensus rating of “Buy” and a consensus target price of $45.25.
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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