Artisan Partners Limited Partnership decreased its position in Air Lease Co. (NYSE:AL) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,474,025 shares of the transportation company’s stock after selling 1,251 shares during the quarter. Artisan Partners Limited Partnership owned 3.92% of Air Lease worth $186,746,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Kingsview Wealth Management LLC purchased a new position in Air Lease in the first quarter valued at approximately $836,000. Copeland Capital Management LLC increased its stake in Air Lease by 82.9% in the second quarter. Copeland Capital Management LLC now owns 1,003,563 shares of the transportation company’s stock valued at $41,889,000 after purchasing an additional 454,973 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in Air Lease in the first quarter valued at approximately $212,000. Raymond James Trust N.A. increased its stake in Air Lease by 0.8% in the second quarter. Raymond James Trust N.A. now owns 30,079 shares of the transportation company’s stock valued at $1,255,000 after purchasing an additional 250 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Air Lease by 3.8% in the first quarter. Geode Capital Management LLC now owns 1,320,403 shares of the transportation company’s stock valued at $64,699,000 after purchasing an additional 48,533 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:AL opened at $38.79 on Friday. The firm’s fifty day moving average price is $40.61 and its 200 day moving average price is $44.38. Air Lease Co. has a 1-year low of $26.65 and a 1-year high of $52.96. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.79 and a beta of 2.13.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 8th. Investors of record on Friday, September 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, September 9th. Air Lease’s payout ratio is 14.58%.
In other Air Lease news, Chairman Steven F. Udvar-Hazy purchased 2,000 shares of the stock in a transaction on Tuesday, August 31st. The stock was bought at an average price of $39.78 per share, for a total transaction of $79,560.00. Following the acquisition, the chairman now directly owns 1,269,423 shares of the company’s stock, valued at $50,497,646.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.46% of the stock is owned by insiders.
Several brokerages have commented on AL. Credit Suisse Group dropped their price target on shares of Air Lease from $52.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Air Lease in a research report on Wednesday, August 18th. Finally, Zacks Investment Research upgraded shares of Air Lease from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a research report on Thursday, July 29th.
Air Lease Profile
Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.
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