Massachusetts Financial Services Co. MA grew its position in shares of Air Lease Corp (NYSE:AL) by 17.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,010 shares of the transportation company’s stock after acquiring an additional 42,790 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Air Lease were worth $13,122,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AL. Barton Investment Management grew its holdings in Air Lease by 8.2% during the third quarter. Barton Investment Management now owns 483,790 shares of the transportation company’s stock worth $22,196,000 after buying an additional 36,604 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in Air Lease by 3.1% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 68,456 shares of the transportation company’s stock worth $3,141,000 after buying an additional 2,060 shares in the last quarter. American Assets Investment Management LLC bought a new stake in Air Lease during the third quarter worth $461,000. Huntington National Bank grew its holdings in Air Lease by 21.9% during the third quarter. Huntington National Bank now owns 135,857 shares of the transportation company’s stock worth $6,233,000 after buying an additional 24,437 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Air Lease by 21.3% during the third quarter. Aperio Group LLC now owns 189,070 shares of the transportation company’s stock worth $8,675,000 after buying an additional 33,142 shares in the last quarter. Hedge funds and other institutional investors own 86.41% of the company’s stock.
In other Air Lease news, EVP Marc H. Baer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $46.22, for a total value of $462,200.00. Following the completion of the sale, the executive vice president now owns 122,891 shares in the company, valued at approximately $5,680,022.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Grant A. Levy sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $45.13, for a total value of $676,950.00. Following the completion of the sale, the executive vice president now owns 153,399 shares of the company’s stock, valued at approximately $6,922,896.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock worth $1,420,550. 9.32% of the stock is owned by corporate insiders.
Air Lease (NYSE:AL) last announced its earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.04. The business had revenue of $397.80 million for the quarter, compared to analyst estimates of $400.11 million. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. Research analysts forecast that Air Lease Corp will post 4.49 EPS for the current fiscal year.
AL has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Air Lease from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. ValuEngine downgraded Air Lease from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Royal Bank of Canada upped their price target on Air Lease from $91.00 to $93.00 and gave the company a “top pick” rating in a research report on Friday, August 10th. Compass Point reaffirmed a “buy” rating and set a $58.00 price target on shares of Air Lease in a research report on Sunday, August 12th. Finally, Citigroup upped their price target on Air Lease from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $55.85.
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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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