Amalgamated Bank Has $650,000 Stake in Air Lease Corporation (AL)
Amalgamated Bank grew its stake in Air Lease Corporation (NYSE:AL) by 24.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,388 shares of the transportation company’s stock after purchasing an additional 3,446 shares during the period. Amalgamated Bank’s holdings in Air Lease Corporation were worth $650,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AL. Israel Discount Bank of New York lifted its holdings in shares of Air Lease Corporation by 7.7% in the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after acquiring an additional 200 shares during the last quarter. Fiduciary Trust Co. purchased a new position in shares of Air Lease Corporation during the 2nd quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Air Lease Corporation by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after purchasing an additional 331 shares during the period. Bank of Montreal Can boosted its stake in shares of Air Lease Corporation by 0.9% during the 1st quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after purchasing an additional 35 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Air Lease Corporation by 14.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock worth $183,000 after purchasing an additional 621 shares during the period. 92.11% of the stock is owned by institutional investors and hedge funds.
In other news, 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 value of $440,000.00. Following the transaction, the executive vice president now directly owns 142,786 shares in the company, valued at approximately $5,711,440. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jie Chen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,562 shares of company stock valued at $1,170,363. Company insiders own 9.76% of the company’s stock.
Several equities analysts recently commented on AL shares. Royal Bank Of Canada upped their price target on shares of Air Lease Corporation from $79.00 to $80.00 and gave the company a “top pick” rating in a report on Friday. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Bank of America Corporation lowered Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research report on Wednesday, August 9th. Finally, Cowen and Company boosted their target price on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Air Lease Corporation has a consensus rating of “Buy” and a consensus target price of $49.11.
Shares of Air Lease Corporation (AL) opened at 42.62 on Monday. Air Lease Corporation has a 52-week low of $27.97 and a 52-week high of $43.39. The firm has a 50-day moving average of $40.06 and a 200 day moving average of $38.46. The stock has a market capitalization of $4.40 billion, a PE ratio of 12.41 and a beta of 1.79.
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. The company had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. Air Lease Corporation’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share. Equities research analysts forecast that Air Lease Corporation will post $3.45 EPS for the current fiscal 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 given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio is presently 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.
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