Air Lease Corporation (NYSE:AL) Shares Bought by BlackRock Inc.
BlackRock Inc. boosted its position in shares of Air Lease Corporation (NYSE:AL) by 14,924.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,851,727 shares of the transportation company’s stock after buying an additional 3,826,090 shares during the period. BlackRock Inc.’s holdings in Air Lease Corporation were worth $149,254,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Air Lease Corporation during the fourth quarter worth approximately $1,052,000. Two Sigma Investments LP purchased a new stake in Air Lease Corporation during the fourth quarter worth approximately $740,000. Norges Bank bought a new position in shares of Air Lease Corporation during the fourth quarter worth $14,466,000. Quadrature Capital Ltd bought a new position in shares of Air Lease Corporation during the fourth quarter worth $376,000. Finally, Teachers Advisors LLC increased its position in shares of Air Lease Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 96,734 shares of the transportation company’s stock worth $3,321,000 after buying an additional 1,850 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Air Lease Corporation (NYSE AL) traded down 0.15% on Friday, reaching $39.32. 574,316 shares of the company’s stock traded hands. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 11.45 and a beta of 1.78. The stock has a 50 day moving average price of $39.59 and a 200 day moving average price of $38.26. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $43.39.
Air Lease Corporation (NYSE:AL) last released its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. The business had revenue of $380.59 million for the quarter, compared to the consensus estimate of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. Analysts forecast that Air Lease Corporation will post $3.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio (DPR) is currently 8.70%.
AL has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Air Lease Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. FBR & Co lowered their price objective on shares of Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 5th. Royal Bank Of Canada restated a “buy” rating on shares of Air Lease Corporation in a research report on Friday, May 5th. BidaskClub upgraded shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Barclays PLC initiated coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They set an “overweight” rating and a $48.00 price objective on the stock. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $45.25.
In related news, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,410 shares in the company, valued at approximately $3,283,580. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Grant A. Levy sold 27,854 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total transaction of $1,062,908.64. Following the completion of the transaction, the executive vice president now owns 210,824 shares of the company’s stock, valued at $8,045,043.84. The disclosure for this sale can be found here. Insiders sold a total of 39,854 shares of company stock worth $1,568,909 over the last ninety days. Insiders own 9.76% of the company’s stock.
Air Lease Corporation Company 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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