Capital Research Global Investors Grows Holdings in Air Lease Corporation (AL)
Capital Research Global Investors raised its holdings in shares of Air Lease Corporation (NYSE:AL) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,208,000 shares of the transportation company’s stock after purchasing an additional 136,000 shares during the period. Capital Research Global Investors owned 4.08% of Air Lease Corporation worth $157,211,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. QS Investors LLC lifted its position in Air Lease Corporation by 0.6% during the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 21 shares during the period. Alps Advisors Inc. raised its position in shares of Air Lease Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 32 shares during the period. Bank of Montreal Can raised its position in shares of Air Lease Corporation by 0.9% in the 1st 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 during the period. Suntrust Banks Inc. raised its position in shares of Air Lease Corporation by 0.9% in the 2nd quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock valued at $479,000 after acquiring an additional 119 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Air Lease Corporation by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock valued at $294,000 after acquiring an additional 134 shares during the period. Institutional investors own 92.11% of the company’s stock.
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A number of analysts recently weighed in on AL shares. Morgan Stanley increased their price target on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Barclays PLC started coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price target on the stock. BidaskClub upgraded shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Finally, ValuEngine upgraded shares of Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $49.75.
Shares of Air Lease Corporation (AL) opened at 43.43 on Friday. The company has a market capitalization of $4.48 billion, a PE ratio of 12.65 and a beta of 1.79. The company’s 50-day moving average price is $40.51 and its 200-day moving average price is $38.73. Air Lease Corporation has a 1-year low of $27.97 and a 1-year high of $44.56.
Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same period in the previous year, the firm earned $1.39 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Air Lease Corporation will post $3.45 earnings per share for the current fiscal year.
The firm 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 $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.
In other news, EVP Marc H. Baer sold 7,562 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total transaction of $300,362.64. Following the completion of the sale, the executive vice president now owns 132,001 shares in the company, valued at $5,243,079.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jie Chen sold 10,000 shares of the business’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 value of $430,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,562 shares of company stock worth $1,342,363. Insiders own 9.76% of the company’s stock.
Air Lease Corporation Company Profile
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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