Air Lease Corporation (AL) Shares Bought by Neuberger Berman Group LLC
Neuberger Berman Group LLC boosted its position in Air Lease Corporation (NYSE:AL) by 158.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,593 shares of the transportation company’s stock after purchasing an additional 31,593 shares during the period. Neuberger Berman Group LLC owned about 0.05% of Air Lease Corporation worth $1,928,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AL. BlackRock Inc. increased its stake in Air Lease Corporation by 14,924.1% in the 1st quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock valued at $149,254,000 after purchasing an additional 3,826,090 shares in the last quarter. Boston Partners increased its stake in Air Lease Corporation by 70.7% in the 2nd quarter. Boston Partners now owns 8,494,727 shares of the transportation company’s stock valued at $317,363,000 after purchasing an additional 3,519,693 shares in the last quarter. Vanguard Group Inc. increased its stake in Air Lease Corporation by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 7,454,231 shares of the transportation company’s stock valued at $288,852,000 after purchasing an additional 294,544 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Air Lease Corporation by 1,073.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 279,676 shares of the transportation company’s stock worth $10,837,000 after buying an additional 255,846 shares in the last quarter. Finally, EJF Capital LLC purchased a new position in Air Lease Corporation during the first quarter worth $8,126,000. 92.19% of the stock is owned by hedge funds and other institutional investors.
Air Lease Corporation (NYSE AL) opened at 39.97 on Friday. Air Lease Corporation has a 52-week low of $27.05 and a 52-week high of $43.39. The stock has a market cap of $4.13 billion, a P/E ratio of 11.64 and a beta of 1.77. The firm’s 50-day moving average price is $40.02 and its 200 day moving average price is $38.46.
Air Lease Corporation (NYSE:AL) last posted its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The company had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. Equities analysts predict that Air Lease Corporation will post $3.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 0.75%. Air Lease Corporation’s dividend payout ratio is currently 8.70%.
In other Air Lease Corporation news, EVP Jie Chen sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total value of $430,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex A. Khatibi sold 11,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.00, for a total value of $440,000.00. Following the completion of the transaction, the executive vice president now directly owns 142,786 shares in the company, valued at approximately $5,711,440. The disclosure for this sale can be found here. Insiders sold 28,562 shares of company stock worth $1,170,363 in the last ninety days. 9.76% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on AL shares. Zacks Investment Research downgraded Air Lease Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Morgan Stanley raised their price target on Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Barclays PLC started coverage on Air Lease Corporation in a research report on Monday, July 10th. They set an “overweight” rating and a $48.00 price target for the company. BidaskClub raised Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, ValuEngine raised Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $45.25.
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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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