Baird Financial Group Inc. boosted its holdings in shares of Air Lease Corp (NYSE:AL) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,061 shares of the transportation company’s stock after acquiring an additional 3,878 shares during the quarter. Baird Financial Group Inc.’s holdings in Air Lease were worth $5,719,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of AL. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Air Lease by 3.1% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 68,456 shares of the transportation company’s stock valued at $3,141,000 after purchasing an additional 2,060 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Air Lease by 10.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 498,537 shares of the transportation company’s stock valued at $20,924,000 after purchasing an additional 46,370 shares during the last quarter. Beach Investment Counsel Inc. PA boosted its stake in shares of Air Lease by 34.5% in the 3rd quarter. Beach Investment Counsel Inc. PA now owns 356,185 shares of the transportation company’s stock valued at $16,342,000 after purchasing an additional 91,376 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Air Lease by 3,517,770.0% in the 2nd quarter. Earnest Partners LLC now owns 351,787 shares of the transportation company’s stock valued at $14,765,000 after purchasing an additional 351,777 shares during the last quarter. Finally, HL Financial Services LLC boosted its stake in shares of Air Lease by 5.2% in the 3rd quarter. HL Financial Services LLC now owns 42,198 shares of the transportation company’s stock valued at $1,936,000 after purchasing an additional 2,100 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE AL opened at $37.91 on Thursday. The firm has a market cap of $4.04 billion, a P/E ratio of 10.39, a P/E/G ratio of 1.02 and a beta of 1.83. Air Lease Corp has a 12-month low of $35.97 and a 12-month high of $50.70. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.80 and a current ratio of 0.80.
Air Lease (NYSE:AL) last issued its earnings results on Thursday, November 8th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The business had revenue of $450.70 million for the quarter, compared to analyst estimates of $443.01 million. Air Lease had a net margin of 51.81% and a return on equity of 11.44%. Air Lease’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 earnings per share. Equities research analysts predict that Air Lease Corp will post 4.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Investors of record on Thursday, December 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a yield of 1.37%. Air Lease’s dividend payout ratio is currently 10.96%.
In related news, EVP Grant A. Levy sold 15,000 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total transaction of $676,950.00. Following the transaction, the executive vice president now directly owns 153,399 shares of the company’s stock, valued at $6,922,896.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.32% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on AL shares. Compass Point reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Air Lease in a research note on Sunday, August 12th. Bank of America reissued a “buy” rating and set a $57.00 target price on shares of Air Lease in a research note on Thursday, August 16th. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, November 13th. Seaport Global Securities started coverage on shares of Air Lease in a research note on Wednesday, October 10th. They set a “buy” rating on the stock. Finally, Cowen reissued a “buy” rating and set a $54.00 target price on shares of Air Lease in a research note on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $54.45.
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Air Lease Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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