Dreman Value Management L L C Has $508,000 Position in Air Lease Corporation (AL)
Dreman Value Management L L C maintained its position in Air Lease Corporation (NYSE:AL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,116 shares of the transportation company’s stock at the close of the second quarter. Dreman Value Management L L C’s holdings in Air Lease Corporation were worth $508,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Israel Discount Bank of New York raised its stake in Air Lease Corporation by 7.7% in the second quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in Air Lease Corporation in the second quarter valued at $111,000. QS Investors LLC raised its stake in Air Lease Corporation by 0.6% in the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after buying an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Air Lease Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after buying an additional 331 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Air Lease Corporation by 14.5% in the second quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after buying an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 92.11% of the company’s stock.
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Air Lease Corporation (NYSE:AL) traded up 0.63% during mid-day trading on Friday, hitting $44.48. The stock had a trading volume of 365,191 shares. Air Lease Corporation has a one year low of $28.16 and a one year high of $44.59. The stock has a market cap of $4.59 billion, a P/E ratio of 12.95 and a beta of 1.79. The company has a 50 day moving average price of $41.29 and a 200 day moving average price of $38.98.
Air Lease Corporation (NYSE:AL) last issued its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS. On average, equities analysts anticipate that Air Lease Corporation will post $3.46 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.67%. 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 company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total value of $300,362.64. Following the sale, the executive vice president now owns 132,001 shares in the company, valued at approximately $5,243,079.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jie Chen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were 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. In the last 90 days, insiders sold 32,562 shares of company stock worth $1,342,363. Company insiders own 9.76% of the company’s stock.
A number of research firms have weighed in on AL. Bank of America Corporation cut Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub cut Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Morgan Stanley raised their price target on Air Lease Corporation from $40.00 to $42.00 in a research note on Tuesday, July 4th. Finally, Cowen and Company raised their price target on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Air Lease Corporation currently has a consensus rating of “Buy” and a consensus target price of $49.75.
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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