Air Lease Corp. (AL) Position Boosted by Vontobel Asset Management Inc.
Vontobel Asset Management Inc. boosted its position in shares of Air Lease Corp. (NYSE:AL) by 25.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,373,979 shares of the company’s stock after buying an additional 275,600 shares during the period. Vontobel Asset Management Inc. owned 1.34% of Air Lease Corp. worth $39,270,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in AL. Boston Partners boosted its stake in Air Lease Corp. by 84.8% in the second quarter. Boston Partners now owns 2,139,606 shares of the company’s stock worth $57,299,000 after buying an additional 982,056 shares in the last quarter. Williams Jones & Associates LLC purchased a new stake in Air Lease Corp. during the second quarter worth $19,370,000. Dimensional Fund Advisors LP boosted its stake in Air Lease Corp. by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,625,297 shares of the company’s stock worth $97,082,000 after buying an additional 626,227 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Air Lease Corp. during the second quarter worth $10,658,000. Finally, Pekin Singer Strauss Asset Management IL purchased a new stake in Air Lease Corp. during the second quarter worth $9,416,000. Institutional investors and hedge funds own 94.90% of the company’s stock.
Air Lease Corp. (NYSE:AL) traded up 0.86% during trading on Monday, reaching $35.11. 501,663 shares of the company’s stock were exchanged. Air Lease Corp. has a 52 week low of $22.47 and a 52 week high of $35.28. The stock has a 50-day moving average of $30.71 and a 200-day moving average of $29.10. The stock has a market capitalization of $3.61 billion, a PE ratio of 10.66 and a beta of 1.54.
Air Lease Corp. (NYSE:AL) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. Air Lease Corp. had a return on equity of 14.83% and a net margin of 26.09%. The business earned $355.10 million during the quarter, compared to the consensus estimate of $356.47 million. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that Air Lease Corp. will post $3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Monday, December 12th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, December 8th. This is an increase from Air Lease Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.85%. Air Lease Corp.’s payout ratio is currently 6.08%.
Several brokerages recently commented on AL. Zacks Investment Research lowered shares of Air Lease Corp. from a “hold” rating to a “sell” rating in a research report on Monday, October 10th. FBR & Co decreased their price objective on shares of Air Lease Corp. from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Finally, Stephens began coverage on shares of Air Lease Corp. in a research report on Tuesday, November 1st. They issued an “overweight” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Air Lease Corp. presently has a consensus rating of “Buy” and an average price target of $45.44.
In other news, Director Robert A. Milton sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $31.73, for a total transaction of $951,900.00. Following the completion of the transaction, the director now directly owns 30,889 shares of the company’s stock, valued at $980,107.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.45% of the company’s stock.
About Air Lease Corp.
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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