OLD National Bancorp IN maintained its position in Air Lease Corporation (NYSE:AL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,900 shares of the transportation company’s stock at the end of the second quarter. OLD National Bancorp IN’s holdings in Air Lease Corporation were worth $407,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Air Lease Corporation by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 492,147 shares of the transportation company’s stock valued at $19,071,000 after buying an additional 7,699 shares during the period. Graybill Bartz & Assoc Ltd. raised its position in shares of Air Lease Corporation by 1.8% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 109,334 shares of the transportation company’s stock valued at $4,237,000 after buying an additional 1,890 shares during the period. Norges Bank acquired a new position in shares of Air Lease Corporation during the fourth quarter valued at about $14,466,000. Grassi Investment Management acquired a new position in shares of Air Lease Corporation during the second quarter valued at about $263,000. Finally, Ingalls & Snyder LLC raised its position in shares of Air Lease Corporation by 1.1% in the first quarter. Ingalls & Snyder LLC now owns 76,225 shares of the transportation company’s stock valued at $2,954,000 after buying an additional 844 shares during the period. 92.09% of the stock is currently owned by institutional investors.
Shares of Air Lease Corporation (AL) opened at 42.56 on Friday. The company’s 50-day moving average price is $38.43 and its 200 day moving average price is $37.86. The company has a market cap of $4.39 billion, a P/E ratio of 12.67 and a beta of 1.78. Air Lease Corporation has a one year low of $27.05 and a one year high of $42.57.
Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. The business had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a return on equity of 11.14% and a net margin of 25.64%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. On average, equities research analysts anticipate that Air Lease Corporation will post $3.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s payout ratio is 8.70%.
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AL has been the topic of several recent analyst reports. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Royal Bank Of Canada restated a “buy” rating on shares of Air Lease Corporation in a report on Monday, May 15th. Barclays PLC initiated coverage on Air Lease Corporation in a report on Monday, July 10th. They set an “overweight” rating and a $48.00 price objective for the company. FBR & Co decreased their price objective on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, May 15th. Finally, Morgan Stanley boosted their price objective on Air Lease Corporation from $40.00 to $42.00 in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $45.43.
In other Air Lease Corporation news, EVP Grant A. Levy sold 27,854 shares of Air Lease Corporation stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the sale, the executive vice president now owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kishore Korde sold 2,000 shares of Air Lease Corporation stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the sale, the executive vice president now directly owns 86,410 shares of the company’s stock, valued at approximately $3,283,580. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by insiders.
About Air Lease Corporation
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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