Air Lease Corp. (AL) Stake Boosted by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. raised its position in Air Lease Corp. (NYSE:AL) by 31.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,540 shares of the company’s stock after buying an additional 33,498 shares during the period. Oppenheimer & Co. Inc. owned 0.13% of Air Lease Corp. worth $3,959,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AL. LS Investment Advisors LLC purchased a new stake in shares of Air Lease Corp. during the second quarter valued at about $102,000. Tower Research Capital LLC TRC raised its stake in shares of Air Lease Corp. by 761.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the company’s stock valued at $112,000 after buying an additional 3,702 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Air Lease Corp. by 55.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,025 shares of the company’s stock valued at $135,000 after buying an additional 1,786 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Air Lease Corp. by 168.1% in the second quarter. BlueMountain Capital Management LLC now owns 5,134 shares of the company’s stock valued at $137,000 after buying an additional 3,219 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Air Lease Corp. during the second quarter valued at about $137,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
Air Lease Corp. (NYSE:AL) traded down 1.11% during trading on Tuesday, reaching $35.60. The company had a trading volume of 736,938 shares. Air Lease Corp. has a one year low of $22.47 and a one year high of $36.42. The firm’s 50-day moving average price is $31.79 and its 200 day moving average price is $29.25. The firm has a market capitalization of $3.66 billion, a P/E ratio of 10.81 and a beta of 1.54.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $355.10 million for the quarter, compared to analysts’ expectations of $356.47 million. Air Lease Corp. had a return on equity of 14.83% and a net margin of 26.09%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. Equities analysts forecast that Air Lease Corp. will post $3.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Monday, December 12th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. This is a boost from Air Lease Corp.’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, December 8th. Air Lease Corp.’s dividend payout ratio is presently 6.08%.
Several equities analysts have recently weighed in on the company. FBR & Co lifted their price target on Air Lease Corp. from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, November 22nd. Stephens assumed coverage on Air Lease Corp. in a research report on Tuesday, November 1st. They issued an “overweight” rating and a $48.00 price target for the company. Finally, Zacks Investment Research cut Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.94.
In other news, Director Robert A. Milton sold 30,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $31.73, for a total transaction of $951,900.00. Following the transaction, the director now directly owns 30,889 shares of the company’s stock, valued at approximately $980,107.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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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