First Trust Advisors LP reduced its stake in shares of Air Lease Corporation (NYSE:AL) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 748,962 shares of the transportation company’s stock after selling 108,167 shares during the period. First Trust Advisors LP’s holdings in Air Lease Corporation were worth $27,981,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Boston Partners increased its stake in shares of Air Lease Corporation by 70.7% in the second quarter. Boston Partners now owns 8,494,727 shares of the transportation company’s stock valued at $317,363,000 after buying an additional 3,519,693 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Air Lease Corporation by 6.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 352,634 shares of the transportation company’s stock valued at $13,175,000 after buying an additional 20,653 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Air Lease Corporation by 79.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,100 shares of the transportation company’s stock valued at $228,000 after buying an additional 2,700 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Air Lease Corporation by 1.4% in the second quarter. Daiwa Securities Group Inc. now owns 129,748 shares of the transportation company’s stock valued at $4,847,000 after buying an additional 1,800 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in shares of Air Lease Corporation by 3,636.0% in the second quarter. Harbour Capital Advisors LLC now owns 22,416 shares of the transportation company’s stock valued at $600,000 after buying an additional 21,816 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Shares of Air Lease Corporation (NYSE AL) opened at 39.93 on Wednesday. The firm has a market capitalization of $4.12 billion, a P/E ratio of 11.63 and a beta of 1.78. Air Lease Corporation has a 52 week low of $27.05 and a 52 week high of $43.39. The stock’s 50 day moving average price is $39.41 and its 200 day moving average price is $38.22.

Air Lease Corporation (NYSE:AL) last announced its earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.84 by $0.08. The firm had revenue of $380.59 million for the quarter, compared to the consensus estimate of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 EPS. On average, analysts predict that Air Lease Corporation will post $3.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 13th will be issued a $0.075 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.30 annualized dividend and a yield of 0.75%. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.

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Several brokerages have recently weighed in on AL. BidaskClub downgraded Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Bank of America Corporation downgraded Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Wednesday, August 9th. Cowen and Company raised their target price 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. Finally, Barclays PLC began coverage on Air Lease Corporation in a research note on Monday, July 10th. They set an “overweight” rating and a $48.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.25.

In other news, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the transaction, the executive vice president now owns 86,410 shares in the company, valued at approximately $3,283,580. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Grant A. Levy sold 27,854 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total transaction of $1,062,908.64. Following the transaction, the executive vice president now owns 210,824 shares in the company, valued at approximately $8,045,043.84. The disclosure for this sale can be found here. Insiders sold a total of 39,854 shares of company stock worth $1,568,909 in the last quarter. Insiders own 9.76% of the company’s stock.

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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Institutional Ownership by Quarter for Air Lease Corporation (NYSE:AL)

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