Gradient Investments LLC increased its position in shares of Air Lease Corp (NYSE:AL) by 36.1% during the 2nd quarter, Holdings Channel reports. The firm owned 18,019 shares of the transportation company’s stock after purchasing an additional 4,780 shares during the period. Gradient Investments LLC’s holdings in Air Lease were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Shufro Rose & Co. LLC increased its position in Air Lease by 3.7% in the second quarter. Shufro Rose & Co. LLC now owns 34,775 shares of the transportation company’s stock worth $1,460,000 after buying an additional 1,250 shares during the period. Berson & Corrado Investment Advisors LLC increased its position in Air Lease by 12.3% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 11,875 shares of the transportation company’s stock worth $498,000 after buying an additional 1,300 shares during the period. Granite Springs Asset Management LLC increased its position in Air Lease by 4.7% in the first quarter. Granite Springs Asset Management LLC now owns 32,602 shares of the transportation company’s stock worth $1,389,000 after buying an additional 1,450 shares during the period. Schroder Investment Management Group increased its position in Air Lease by 8.1% in the first quarter. Schroder Investment Management Group now owns 25,586 shares of the transportation company’s stock worth $1,090,000 after buying an additional 1,915 shares during the period. Finally, BB&T Securities LLC increased its position in Air Lease by 14.4% in the first quarter. BB&T Securities LLC now owns 15,238 shares of the transportation company’s stock worth $649,000 after buying an additional 1,921 shares during the period. 87.61% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on AL shares. Zacks Investment Research lowered Air Lease from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. ValuEngine lowered Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Royal Bank of Canada increased their target price on Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a research report on Friday, August 10th. Compass Point reaffirmed a “buy” rating and issued a $58.00 target price on shares of Air Lease in a research report on Sunday, August 12th. Finally, Bank of America reaffirmed a “buy” rating and issued a $57.00 target price on shares of Air Lease in a research report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.85.
In related news, EVP John D. Poerschke sold 12,144 shares of Air Lease stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $44.98, for a total transaction of $546,237.12. Following the transaction, the executive vice president now directly owns 43,500 shares of the company’s stock, valued at $1,956,630. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marc H. Baer sold 10,000 shares of Air Lease stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $46.22, for a total value of $462,200.00. Following the transaction, the executive vice president now directly owns 122,891 shares in the company, valued at $5,680,022.02. The disclosure for this sale can be found here. Insiders have sold 54,144 shares of company stock worth $2,452,387 over the last three months. Corporate insiders own 9.32% of the company’s stock.
Shares of AL opened at $46.28 on Wednesday. The firm has a market cap of $4.73 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.19 and a beta of 1.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.53. Air Lease Corp has a one year low of $38.46 and a one year high of $50.70.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, August 9th. The transportation company reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. The company had revenue of $397.80 million for the quarter, compared to analyst estimates of $400.11 million. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.51 earnings per share. sell-side analysts anticipate that Air Lease Corp will post 4.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, September 13th. Air Lease’s dividend payout ratio (DPR) is 10.96%.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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