Schwab Charles Investment Management Inc. boosted its holdings in shares of Air Lease Corp (NYSE:AL) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 394,517 shares of the transportation company’s stock after purchasing an additional 41,883 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.38% of Air Lease worth $16,815,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. QS Investors LLC boosted its holdings in shares of Air Lease by 0.6% during the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after buying an additional 21 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Air Lease by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock worth $460,000 after buying an additional 32 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of Air Lease by 0.9% during the 2nd quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock worth $479,000 after buying an additional 119 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Air Lease by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock worth $294,000 after buying an additional 134 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in shares of Air Lease by 0.8% during the 2nd quarter. Advisory Services Network LLC now owns 23,589 shares of the transportation company’s stock worth $881,000 after buying an additional 198 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jie Chen sold 2,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total transaction of $87,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John L. Plueger sold 300,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the sale, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at approximately $43,709,195.40. The disclosure for this sale can be found here. Insiders sold a total of 379,000 shares of company stock valued at $15,939,110 in the last 90 days. Corporate insiders own 9.76% of the company’s stock.
Shares of Air Lease Corp (NYSE AL) traded up $0.33 during trading on Friday, hitting $50.13. 490,325 shares of the company were exchanged, compared to its average volume of 745,015. The firm has a market cap of $5,180.00, a PE ratio of 14.41, a P/E/G ratio of 1.25 and a beta of 1.81. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53. Air Lease Corp has a 1-year low of $34.42 and a 1-year high of $50.21.
Air Lease (NYSE:AL) last announced its earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $376.77 million during the quarter, compared to analysts’ expectations of $374.61 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.43 EPS. equities analysts predict that Air Lease Corp will post 3.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.80%. The ex-dividend date was Wednesday, December 13th. This is a boost from Air Lease’s previous quarterly dividend of $0.08. Air Lease’s dividend payout ratio (DPR) is presently 11.49%.
A number of brokerages have weighed in on AL. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday. ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Citigroup started coverage on shares of Air Lease in a report on Friday, December 8th. They set a “neutral” rating and a $46.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $80.00 price objective on shares of Air Lease in a report on Thursday, November 2nd. Finally, Bank of America set a $47.00 price objective on shares of Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Air Lease presently has a consensus rating of “Hold” and an average price target of $49.40.
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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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