Teachers Advisors LLC lessened its holdings in Air Lease Corporation (NYSE:AL) by 45.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,746 shares of the transportation company’s stock after selling 95,641 shares during the quarter. Teachers Advisors LLC owned about 0.11% of Air Lease Corporation worth $4,212,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Israel Discount Bank of New York increased its holdings in Air Lease Corporation by 7.7% in the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after buying an additional 200 shares during the period. Fiduciary Trust Co. acquired a new position in Air Lease Corporation in the 2nd quarter worth approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the period. Advisors Asset Management Inc. increased its holdings in Air Lease Corporation by 14.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock worth $183,000 after buying an additional 621 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Air Lease Corporation by 79.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,100 shares of the transportation company’s stock worth $228,000 after buying an additional 2,700 shares during the period. Institutional investors own 92.11% of the company’s stock.
In other Air Lease Corporation news, EVP Alex A. Khatibi sold 11,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $40.00, for a total value of $440,000.00. Following the sale, the executive vice president now owns 142,786 shares of the company’s stock, valued at $5,711,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marc H. Baer sold 7,562 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total value of $300,362.64. Following the completion of the sale, the executive vice president now directly owns 132,001 shares in the company, valued at approximately $5,243,079.72. The disclosure for this sale can be found here. Insiders have sold 32,562 shares of company stock worth $1,342,363 in the last ninety days. 9.76% of the stock is currently owned by corporate insiders.
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Several brokerages recently weighed in on AL. Bank of America Corporation downgraded shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Morgan Stanley increased their price target on shares of Air Lease Corporation from $40.00 to $42.00 in a report on Tuesday, July 4th. Finally, Cowen and Company increased their price target on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $49.75.
Shares of Air Lease Corporation (NYSE AL) opened at 44.48 on Friday. The firm has a market cap of $4.59 billion, a PE ratio of 12.95 and a beta of 1.79. Air Lease Corporation has a 52 week low of $28.16 and a 52 week high of $44.59. The stock’s 50 day moving average is $41.24 and its 200-day moving average is $38.97.
Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Zacks’ 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 quarter in the prior year, the company posted $1.39 earnings per share. Air Lease Corporation’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Air Lease Corporation will post $3.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Wednesday, September 13th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio is presently 8.70%.
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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