FMR LLC lifted its position in Air Lease Corp (NYSE:AL) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,490,348 shares of the transportation company’s stock after buying an additional 178,070 shares during the period. FMR LLC owned approximately 3.36% of Air Lease worth $146,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings in Air Lease by 73.3% during the second quarter. Whittier Trust Co. now owns 5,513 shares of the transportation company’s stock valued at $231,000 after acquiring an additional 2,331 shares during the period. People s United Financial Inc. bought a new stake in Air Lease during the second quarter valued at about $236,000. InterOcean Capital LLC bought a new stake in Air Lease during the first quarter valued at about $256,000. Gideon Capital Advisors Inc. bought a new stake in Air Lease during the first quarter valued at about $301,000. Finally, Ramsey Quantitative Systems raised its holdings in Air Lease by 46.3% during the second quarter. Ramsey Quantitative Systems now owns 8,163 shares of the transportation company’s stock valued at $343,000 after acquiring an additional 2,582 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.
Shares of NYSE AL traded down $0.62 during trading hours on Friday, reaching $45.15. The stock had a trading volume of 480,203 shares, compared to its average volume of 647,996. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.21 and a beta of 1.78. Air Lease Corp has a 52-week low of $40.26 and a 52-week high of $50.70. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 0.85.
Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, August 9th. The transportation company reported $1.04 EPS for the quarter, hitting analysts’ consensus estimates of $1.04. The company had revenue of $397.80 million during the quarter, compared to the consensus estimate of $400.11 million. Air Lease had a net margin of 51.22% and a return on equity of 10.85%. Air Lease’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 earnings per share. Analysts forecast that Air Lease Corp will post 4.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, September 13th. Air Lease’s dividend payout ratio (DPR) is 10.96%.
In related news, EVP Marc H. Baer sold 10,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,680,022.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John D. Poerschke sold 6,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $46.90, for a total value of $281,400.00. Following the completion of the transaction, the executive vice president now directly owns 51,500 shares in the company, valued at $2,415,350. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $1,420,550 in the last three months. 9.32% of the stock is currently owned by insiders.
AL has been the topic of several research reports. ValuEngine raised Air Lease from a “sell” rating to a “hold” rating in a report on Tuesday. Bank of America reaffirmed a “buy” rating and issued a $57.00 target price on shares of Air Lease in a report on Thursday, August 16th. Citigroup lifted their target price on Air Lease from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 15th. Compass Point reissued a “buy” rating and set a $58.00 price objective on shares of Air Lease in a research note on Sunday, August 12th. Finally, Royal Bank of Canada boosted their price objective on Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Air Lease has an average rating of “Buy” and an average price target of $55.85.
Air Lease 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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