Clearbridge Investments LLC decreased its position in Air Lease Corp (NYSE:AL) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,029,055 shares of the transportation company’s stock after selling 116,253 shares during the period. Clearbridge Investments LLC owned about 1.00% of Air Lease worth $49,487,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Granite Springs Asset Management LLC acquired a new position in shares of Air Lease in the 4th quarter worth approximately $1,499,000. Quantitative Investment Management LLC raised its holdings in shares of Air Lease by 6.2% in the 4th quarter. Quantitative Investment Management LLC now owns 34,200 shares of the transportation company’s stock worth $1,644,000 after buying an additional 2,000 shares in the last quarter. BlueCrest Capital Management Ltd raised its holdings in shares of Air Lease by 17.4% in the 4th quarter. BlueCrest Capital Management Ltd now owns 12,645 shares of the transportation company’s stock worth $608,000 after buying an additional 1,878 shares in the last quarter. Capital Counsel LLC NY raised its holdings in shares of Air Lease by 0.4% in the 4th quarter. Capital Counsel LLC NY now owns 628,550 shares of the transportation company’s stock worth $30,227,000 after buying an additional 2,800 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new position in shares of Air Lease in the 4th quarter worth approximately $268,000. 90.32% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Macquarie assumed coverage on Air Lease in a report on Tuesday. They issued an “outperform” rating for the company. Bank of America raised Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a report on Friday, March 9th. JPMorgan Chase & Co. increased their target price on Air Lease from $48.00 to $54.50 and gave the stock an “overweight” rating in a report on Tuesday, March 6th. Citigroup restated a “hold” rating and set a $49.00 price target on shares of Air Lease in a research report on Wednesday, February 28th. Finally, Credit Suisse Group restated an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Air Lease in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $52.05.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.19. The business had revenue of $398.47 million for the quarter, compared to analyst estimates of $380.93 million. Air Lease had a return on equity of 10.91% and a net margin of 49.87%. Air Lease’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 EPS. analysts anticipate that Air Lease Corp will post 4.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Tuesday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. Air Lease’s dividend payout ratio (DPR) is presently 5.87%.
In other Air Lease news, Chairman Steven F. Udvar-Hazy sold 9,150 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $43.25, for a total value of $395,737.50. Following the transaction, the chairman now directly owns 926,962 shares in the company, valued at approximately $40,091,106.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kishore Korde sold 2,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the executive vice president now owns 78,976 shares in the company, valued at $3,882,460.16. The disclosure for this sale can be found here. Insiders sold a total of 50,714 shares of company stock worth $2,279,605 over the last quarter. Corporate insiders own 9.76% of the company’s stock.
Air Lease 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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