Strs Ohio reduced its stake in shares of Air Lease Corp (NYSE:AL) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,098,809 shares of the transportation company’s stock after selling 1,471 shares during the quarter. Strs Ohio owned 0.99% of Air Lease worth $45,424,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in AL. Sageworth Trust Co purchased a new position in Air Lease during the first quarter valued at approximately $26,000. Permanens Capital L.P. purchased a new position in Air Lease during the first quarter valued at approximately $26,000. Osborn Williams & Donohoe LLC purchased a new position in Air Lease during the first quarter valued at approximately $38,000. SeaBridge Investment Advisors LLC raised its position in Air Lease by 50.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 1,500 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 500 shares in the last quarter. Finally, Private Capital Group LLC raised its position in Air Lease by 204.5% during the first quarter. Private Capital Group LLC now owns 2,183 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 1,466 shares in the last quarter. Institutional investors own 85.54% of the company’s stock.
Several analysts have commented on AL shares. Goldman Sachs Group started coverage on Air Lease in a report on Monday, April 8th. They issued a “buy” rating and a $52.00 price objective on the stock. Zacks Investment Research lowered Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a report on Friday. Finally, ValuEngine lowered Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $55.78.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.01. The firm had revenue of $466.00 million for the quarter, compared to analyst estimates of $456.91 million. Air Lease had a return on equity of 11.45% and a net margin of 30.50%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. Equities research analysts forecast that Air Lease Corp will post 5.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, June 4th. Air Lease’s dividend payout ratio is presently 11.30%.
In other Air Lease news, EVP Marc H. Baer sold 130,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $36.80, for a total transaction of $4,784,000.00. Following the transaction, the executive vice president now owns 275,008 shares of the company’s stock, valued at $10,120,294.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John L. Plueger sold 50,671 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $38.59, for a total value of $1,955,393.89. Following the transaction, the chief executive officer now directly owns 914,145 shares in the company, valued at approximately $35,276,855.55. The disclosure for this sale can be found here. Insiders sold 576,477 shares of company stock worth $21,843,351 over the last ninety days. Corporate insiders own 8.76% of the company’s stock.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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