Air Lease Corporation (NYSE:AL) Stake Increased by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC boosted its position in Air Lease Corporation (NYSE:AL) by 3,636.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,416 shares of the transportation company’s stock after buying an additional 21,816 shares during the period. Harbour Capital Advisors LLC’s holdings in Air Lease Corporation were worth $600,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership boosted its stake in shares of Air Lease Corporation by 1.7% in the first quarter. Artisan Partners Limited Partnership now owns 9,059,266 shares of the transportation company’s stock worth $351,047,000 after buying an additional 154,423 shares during the period. Vanguard Group Inc. boosted its stake in Air Lease Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 7,454,231 shares of the transportation company’s stock valued at $288,852,000 after buying an additional 294,544 shares during the last quarter. Boston Partners boosted its stake in Air Lease Corporation by 118.3% in the first quarter. Boston Partners now owns 4,975,034 shares of the transportation company’s stock valued at $192,782,000 after buying an additional 2,696,510 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Air Lease Corporation by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,591,941 shares of the transportation company’s stock valued at $177,938,000 after buying an additional 197,806 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Air Lease Corporation by 14,924.1% in the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock valued at $149,254,000 after buying an additional 3,826,090 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.
Shares of Air Lease Corporation (AL) opened at 42.56 on Monday. Air Lease Corporation has a 52-week low of $27.05 and a 52-week high of $42.57. The firm has a 50-day moving average of $38.43 and a 200 day moving average of $37.86. The firm has a market cap of $4.39 billion, a PE ratio of 12.67 and a beta of 1.78.
Air Lease Corporation (NYSE:AL) last issued its earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The firm had revenue of $380.59 million during the quarter, compared to the consensus estimate of $375.14 million. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, equities analysts predict that Air Lease Corporation will post $3.42 earnings per share for the current year.
The firm also recently announced 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 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, September 12th. Air Lease Corporation’s payout ratio is 8.70%.
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Several equities research analysts have weighed in on the stock. Cowen and Company raised their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday. BidaskClub upgraded shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Barclays PLC assumed coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Air Lease Corporation currently has a consensus rating of “Buy” and an average price target of $45.43.
In other Air Lease Corporation news, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $38.00, for a total transaction 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 $3,283,580. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Grant A. Levy sold 27,854 shares of the business’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 transaction, the executive vice president now directly owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. 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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