Air Lease Corp (AL) Shares Bought by Boston Partners
Boston Partners boosted its holdings in Air Lease Corp (NYSE:AL) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,730,004 shares of the transportation company’s stock after acquiring an additional 174,888 shares during the period. Boston Partners owned 8.40% of Air Lease worth $366,398,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC acquired a new position in Air Lease in the 2nd quarter valued at $624,000. CIBC Private Wealth Group LLC grew its holdings in Air Lease by 6,850.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 23,354 shares of the transportation company’s stock valued at $980,000 after buying an additional 23,018 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Air Lease by 13.3% in the 2nd quarter. Victory Capital Management Inc. now owns 75,610 shares of the transportation company’s stock valued at $3,173,000 after buying an additional 8,854 shares in the last quarter. First Trust Advisors LP grew its holdings in Air Lease by 2.4% in the 2nd quarter. First Trust Advisors LP now owns 751,019 shares of the transportation company’s stock valued at $31,520,000 after buying an additional 17,650 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in Air Lease by 4.4% in the 2nd quarter. Cooke & Bieler LP now owns 615,070 shares of the transportation company’s stock valued at $25,814,000 after buying an additional 26,170 shares in the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
A number of brokerages have commented on AL. Zacks Investment Research lowered Air Lease from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine lowered Air Lease from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Morgan Stanley upped their price objective on Air Lease from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $53.94.
AL opened at $44.14 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of 11.48, a P/E/G ratio of 1.39 and a beta of 1.80. Air Lease Corp has a 52-week low of $38.46 and a 52-week high of $50.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.34.
Air Lease (NYSE:AL) last released its earnings results on Thursday, August 9th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. 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 11.03% and a net margin of 50.86%. Air Lease’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.51 EPS. equities analysts forecast that Air Lease Corp will post 4.45 earnings per share for the current year.
About Air Lease
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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