Cedar Hill Associates LLC bought a new stake in shares of Air Lease Corporation (NYSE:AL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 207,920 shares of the transportation company’s stock, valued at approximately $7,768,000. Air Lease Corporation makes up about 1.6% of Cedar Hill Associates LLC’s investment portfolio, making the stock its 29th largest position. Cedar Hill Associates LLC owned 0.20% of Air Lease Corporation as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Israel Discount Bank of New York bought a new stake in shares of Air Lease Corporation during the first quarter valued at approximately $100,000. Fiduciary Trust Co. bought a new stake in shares of Air Lease Corporation during the second quarter valued at approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Air Lease Corporation by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 331 shares in the last quarter. Bank of Montreal Can increased its position in shares of Air Lease Corporation by 0.9% during the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after acquiring an additional 35 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Air Lease Corporation by 14.5% during the second quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after acquiring an additional 621 shares in the last quarter. 92.11% of the stock is owned by institutional investors and hedge funds.

In other Air Lease Corporation news, EVP Jie Chen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.00, for a total transaction of $430,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alex A. Khatibi sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $440,000.00. Following the transaction, the executive vice president now owns 142,786 shares in the company, valued at approximately $5,711,440. The disclosure for this sale can be found here. Insiders have sold a total of 28,562 shares of company stock worth $1,170,363 in the last 90 days. 9.76% of the stock is currently owned by company insiders.

AL has been the subject of several analyst reports. 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. Barclays PLC initiated coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They set an “overweight” rating and a $48.00 price target for the company. Bank of America Corporation downgraded shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Wednesday, August 9th. Morgan Stanley raised their price target on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Finally, BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Air Lease Corporation has a consensus rating of “Buy” and an average target price of $45.25.

ILLEGAL ACTIVITY WARNING: “207,920 Shares in Air Lease Corporation (AL) Purchased by Cedar Hill Associates LLC” was published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/207920-shares-in-air-lease-corporation-al-purchased-by-cedar-hill-associates-llc/1583128.html.

Air Lease Corporation (NYSE:AL) traded up 0.27% during midday trading on Friday, reaching $41.10. 433,705 shares of the company’s stock were exchanged. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 11.97 and a beta of 1.77. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $43.39. The stock’s 50-day moving average is $40.06 and its 200-day moving average is $38.46.

Air Lease Corporation (NYSE:AL) last posted its earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $375.14 million. During the same quarter in the prior year, the company posted $1.39 earnings per share. Air Lease Corporation’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Air Lease Corporation will post $3.45 earnings per share for the current year.

The business 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 dividend of $0.075 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 0.73%. Air Lease Corporation’s payout ratio is 8.70%.

About Air Lease Corporation

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 Corporation (NYSE:AL)

Receive News & Ratings for Air Lease Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.