AlphaCrest Capital Management LLC grew its holdings in Air Lease Co. (NYSE:AL) by 167.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,142 shares of the transportation company’s stock after purchasing an additional 6,973 shares during the period. AlphaCrest Capital Management LLC’s holdings in Air Lease were worth $465,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in Air Lease by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,632 shares of the transportation company’s stock worth $246,208,000 after purchasing an additional 51,810 shares in the last quarter. Lyrical Asset Management LP boosted its holdings in Air Lease by 4.7% in the 1st quarter. Lyrical Asset Management LP now owns 3,616,571 shares of the transportation company’s stock valued at $177,212,000 after purchasing an additional 161,629 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Air Lease by 41.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,670,759 shares of the transportation company’s stock worth $130,867,000 after acquiring an additional 782,825 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Air Lease by 3,770.1% during the 2nd quarter. Alliancebernstein L.P. now owns 2,039,494 shares of the transportation company’s stock valued at $85,128,000 after acquiring an additional 1,986,795 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 worth $64,699,000 after purchasing an additional 48,533 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.
In other news, Chairman Steven F. Udvar-Hazy bought 2,000 shares of the business’s stock in a transaction dated Tuesday, August 31st. The shares were purchased at an average price of $39.78 per share, for a total transaction of $79,560.00. Following the completion of the acquisition, the chairman now owns 1,269,423 shares of the company’s stock, valued at $50,497,646.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.46% of the company’s stock.
Air Lease (NYSE:AL) last released its earnings results on Wednesday, August 4th. The transportation company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). The company had revenue of $491.88 million during the quarter, compared to the consensus estimate of $495.61 million. Air Lease had a net margin of 20.98% and a return on equity of 6.55%. Equities analysts expect that Air Lease Co. will post 3.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 8th. Shareholders of record on Friday, September 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 9th. This represents a $0.64 annualized dividend and a yield of 1.53%. Air Lease’s payout ratio is currently 14.58%.
AL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Air Lease in a research note on Wednesday, August 18th. Zacks Investment Research upgraded Air Lease from a “sell” rating to a “hold” rating and set a $44.00 target price for the company in a research report on Thursday, October 7th. Finally, Credit Suisse Group reduced 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 report on Friday, August 6th.
Air Lease Company 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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