Air Lease Corp (AL) Holdings Reduced by Keeley Teton Advisors LLC
Keeley Teton Advisors LLC reduced its stake in shares of Air Lease Corp (NYSE:AL) by 16.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,253,232 shares of the transportation company’s stock after selling 252,410 shares during the period. Air Lease makes up approximately 2.9% of Keeley Teton Advisors LLC’s holdings, making the stock its biggest holding. Keeley Teton Advisors LLC owned 1.21% of Air Lease worth $53,413,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners lifted its holdings in Air Lease by 2.0% during the 3rd quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after purchasing an additional 169,454 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Air Lease by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,550,212 shares of the transportation company’s stock valued at $282,076,000 after purchasing an additional 95,981 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Air Lease by 3.3% during the second quarter. Capital Research Global Investors now owns 4,208,000 shares of the transportation company’s stock worth $157,211,000 after buying an additional 136,000 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Air Lease by 0.3% during the third quarter. Royce & Associates LP now owns 1,382,300 shares of the transportation company’s stock worth $58,914,000 after buying an additional 4,500 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Air Lease by 1.5% during the second quarter. State Street Corp now owns 1,349,037 shares of the transportation company’s stock worth $50,398,000 after buying an additional 19,548 shares in the last quarter. 91.87% of the stock is owned by institutional investors.
Shares of Air Lease Corp (NYSE:AL) opened at $44.13 on Wednesday. Air Lease Corp has a 1-year low of $34.21 and a 1-year high of $45.15. The stock has a market capitalization of $4,576.63, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.33 and a beta of 1.82. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be paid a dividend of $0.10 per share. This is an increase from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. Air Lease’s dividend payout ratio is presently 8.60%.
In other Air Lease news, EVP Marc H. Baer sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $44.13, for a total value of $220,650.00. Following the sale, the executive vice president now owns 127,001 shares of the company’s stock, valued at approximately $5,604,554.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jie Chen sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total value of $87,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 326,000 shares of company stock valued at $13,490,490 in the last quarter. 9.76% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on AL shares. Zacks Investment Research upgraded Air Lease from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Royal Bank Of Canada lifted their target price on Air Lease from $79.00 to $80.00 and gave the company a “top pick” rating in a research report on Friday, September 29th. BidaskClub cut Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Bank of America set a $47.00 target price on Air Lease and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, Cowen lifted their target price on Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.78.
Air Lease 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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