First Trust Advisors LP grew its stake in shares of Air Lease Corp (NYSE:AL) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 805,728 shares of the transportation company’s stock after purchasing an additional 54,709 shares during the quarter. First Trust Advisors LP owned about 0.77% of Air Lease worth $36,967,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of Air Lease by 17.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 286,010 shares of the transportation company’s stock worth $13,122,000 after purchasing an additional 42,790 shares during the last quarter. Barton Investment Management increased its holdings in shares of Air Lease by 8.2% during the 3rd quarter. Barton Investment Management now owns 483,790 shares of the transportation company’s stock worth $22,196,000 after acquiring an additional 36,604 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Air Lease by 3.1% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 68,456 shares of the transportation company’s stock worth $3,141,000 after acquiring an additional 2,060 shares during the last quarter. American Assets Investment Management LLC acquired a new position in shares of Air Lease during the 3rd quarter worth approximately $461,000. Finally, Huntington National Bank increased its holdings in shares of Air Lease by 21.9% during the 3rd quarter. Huntington National Bank now owns 135,857 shares of the transportation company’s stock worth $6,233,000 after acquiring an additional 24,437 shares during the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on AL shares. Compass Point reissued a “buy” rating and set a $58.00 target price on shares of Air Lease in a report on Sunday, August 12th. ValuEngine lowered Air Lease from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Royal Bank of Canada boosted their target price on Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a report on Friday, August 10th. Seaport Global Securities started coverage on Air Lease in a report on Wednesday, October 10th. They set a “buy” rating on the stock. Finally, Bank of America reissued a “buy” rating and set a $57.00 target price on shares of Air Lease in a report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.85.
AL opened at $38.10 on Thursday. The firm has a market capitalization of $3.92 billion, a P/E ratio of 10.44, a PEG ratio of 0.99 and a beta of 1.78. Air Lease Corp has a 1 year low of $36.46 and a 1 year high of $50.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.53.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. The business had revenue of $397.80 million during the quarter, compared to the consensus estimate of $400.11 million. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. On average, research analysts expect that Air Lease Corp will post 4.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 14th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.05%. Air Lease’s dividend payout ratio (DPR) is presently 10.96%.
About Air Lease
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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