OLD National Bancorp IN held its stake in Air Lease Corporation (NYSE:AL) during the second quarter, according to its most recent filing with the SEC. The fund 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.
Several other large investors have also recently bought and sold shares of the stock. Israel Discount Bank of New York purchased a new stake in Air Lease Corporation during the first quarter valued at $100,000. Bank of Montreal Can boosted its stake in Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after buying an additional 35 shares during the period. Penserra Capital Management LLC boosted its stake in Air Lease Corporation by 674.8% in the first quarter. Penserra Capital Management LLC now owns 4,974 shares of the transportation company’s stock valued at $192,000 after buying an additional 4,332 shares during the period. Connable Office Inc. bought a new stake in Air Lease Corporation during the first quarter valued at approximately $213,000. Finally, Janus Capital Management LLC bought a new stake in Air Lease Corporation during the fourth quarter valued at approximately $209,000. 91.84% of the stock is owned by institutional investors and hedge funds.
Shares of Air Lease Corporation (NYSE AL) traded down 0.25% on Friday, hitting $40.01. The stock had a trading volume of 652,386 shares. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $43.39. The firm has a market cap of $4.13 billion, a P/E ratio of 11.65 and a beta of 1.78. The company’s 50-day moving average price is $39.21 and its 200 day moving average price is $38.14.
Air Lease Corporation (NYSE:AL) last released 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. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm had revenue of $380.59 million for the quarter, compared to the consensus estimate of $375.14 million. During the same quarter last year, the business posted $1.39 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio is 8.70%.
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Several research firms have recently commented on AL. Bank of America Corporation cut Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Wednesday. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Cowen and Company increased their price objective on Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Four research 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $45.25.
In other news, EVP Grant A. Levy sold 27,854 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 210,824 shares in the company, valued at approximately $8,045,043.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction dated 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 owns 86,410 shares of the company’s stock, valued at approximately $3,283,580. The disclosure for this sale can be found here. Insiders sold a total of 39,854 shares of company stock worth $1,568,909 in the last three months. Company 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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