UBS Asset Management Americas Inc. raised its position in shares of Air Lease Corp (NYSE:AL) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,767 shares of the transportation company’s stock after purchasing an additional 1,521 shares during the period. UBS Asset Management Americas Inc. owned 0.10% of Air Lease worth $4,990,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Advisory Services Network LLC raised its position in shares of Air Lease by 4.9% during the 4th quarter. Advisory Services Network LLC now owns 25,430 shares of the transportation company’s stock worth $1,223,000 after buying an additional 1,191 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Air Lease by 48.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,333 shares of the transportation company’s stock worth $256,000 after buying an additional 1,734 shares in the last quarter. Gradient Investments LLC raised its position in shares of Air Lease by 20.3% during the 4th quarter. Gradient Investments LLC now owns 11,036 shares of the transportation company’s stock worth $531,000 after buying an additional 1,865 shares in the last quarter. Mastrapasqua Asset Management Inc. raised its position in shares of Air Lease by 5.9% during the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 33,380 shares of the transportation company’s stock worth $1,423,000 after buying an additional 1,870 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Air Lease during the 4th quarter worth about $102,000. 90.32% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on AL shares. Zacks Investment Research upgraded shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, January 9th. Citigroup started coverage on shares of Air Lease in a research report on Friday, December 8th. They set a “neutral” rating and a $46.00 price target on the stock. UBS Group restated a “sell” rating and set a $32.00 price target (up from $31.00) on shares of Air Lease in a research report on Wednesday, February 21st. ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $57.00 target price (up from $55.00) on shares of Air Lease in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Air Lease presently has an average rating of “Hold” and an average price target of $52.05.
Air Lease (NYSE:AL) last released its earnings results on Thursday, February 22nd. The transportation company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.19. Air Lease had a net margin of 49.87% and a return on equity of 10.91%. The business had revenue of $398.47 million for the quarter, compared to the consensus estimate of $380.93 million. During the same period in the previous year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts predict that Air Lease Corp will post 4.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Tuesday, March 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Air Lease’s payout ratio is currently 10.96%.
In other news, EVP Marc H. Baer sold 3,000 shares of Air Lease stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $44.29, for a total value of $132,870.00. Following the transaction, the executive vice president now directly owns 140,791 shares of the company’s stock, valued at $6,235,633.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven F. Udvar-Hazy sold 9,150 shares of Air Lease stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $43.25, for a total transaction of $395,737.50. Following the completion of the transaction, the chairman now directly owns 926,962 shares in the company, valued at $40,091,106.50. The disclosure for this sale can be found here. Insiders sold a total of 78,150 shares of company stock worth $3,532,648 over the last quarter. Insiders own 9.76% of the company’s stock.
Air Lease 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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