AlphaCrest Capital Management LLC purchased a new stake in shares of Air Lease Corp (NYSE:AL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,700 shares of the transportation company’s stock, valued at approximately $233,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in Air Lease by 10.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 15,098 shares of the transportation company’s stock valued at $693,000 after buying an additional 1,375 shares in the last quarter. US Bancorp DE boosted its stake in Air Lease by 1,008.3% during the third quarter. US Bancorp DE now owns 16,924 shares of the transportation company’s stock valued at $775,000 after buying an additional 15,397 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Air Lease by 27.7% during the third quarter. Victory Capital Management Inc. now owns 96,568 shares of the transportation company’s stock valued at $4,431,000 after buying an additional 20,958 shares in the last quarter. Comerica Bank bought a new position in Air Lease during the third quarter valued at about $221,000. Finally, HL Financial Services LLC boosted its stake in Air Lease by 5.2% during the third quarter. HL Financial Services LLC now owns 42,198 shares of the transportation company’s stock valued at $1,936,000 after buying an additional 2,100 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.
In other Air Lease news, insider Steven F. Udvar-Hazy acquired 3,000 shares of Air Lease stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average cost of $34.29 per share, with a total value of $102,870.00. Following the purchase, the insider now owns 947,682 shares in the company, valued at $32,496,015.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven F. Udvar-Hazy acquired 2,000 shares of Air Lease stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average cost of $35.77 per share, with a total value of $71,540.00. Following the completion of the purchase, the insider now owns 947,682 shares in the company, valued at approximately $33,898,585.14. The disclosure for this purchase can be found here. 9.32% of the stock is currently owned by corporate insiders.
Shares of Air Lease stock opened at $35.38 on Friday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 0.81 and a beta of 2.11. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.80 and a quick ratio of 0.80. Air Lease Corp has a 1 year low of $28.13 and a 1 year high of $47.34.
Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 21st. The transportation company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.01. The firm had revenue of $449.98 million during the quarter, compared to the consensus estimate of $457.55 million. Air Lease had a return on equity of 11.75% and a net margin of 30.41%. On average, research analysts forecast that Air Lease Corp will post 5.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, March 19th. Air Lease’s dividend payout ratio is currently 11.30%.
Several research analysts recently weighed in on AL shares. Zacks Investment Research cut Air Lease from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Morgan Stanley decreased their price target on Air Lease from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 14th. ValuEngine lowered Air Lease from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. TheStreet lowered Air Lease from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. Finally, Cowen reiterated a “buy” rating and issued a $54.00 price target on shares of Air Lease in a research report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Air Lease has an average rating of “Buy” and an average price target of $56.00.
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About Air Lease
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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