Natixis Advisors L.P. increased its stake in Air Lease Corp (NYSE:AL) by 22.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 99,432 shares of the transportation company’s stock after acquiring an additional 18,048 shares during the period. Natixis Advisors L.P.’s holdings in Air Lease were worth $4,111,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in AL. Permanens Capital L.P. purchased a new stake in Air Lease in the first quarter worth about $26,000. Parallel Advisors LLC grew its holdings in Air Lease by 1,196.6% in the second quarter. Parallel Advisors LLC now owns 765 shares of the transportation company’s stock worth $32,000 after purchasing an additional 706 shares during the period. Johnson Financial Group Inc. purchased a new stake in Air Lease in the second quarter worth about $32,000. SeaBridge Investment Advisors LLC grew its holdings in Air Lease by 50.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 1,500 shares of the transportation company’s stock worth $62,000 after purchasing an additional 500 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Air Lease by 92.5% in the second quarter. Parkside Financial Bank & Trust now owns 2,081 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,000 shares during the period. 91.67% of the stock is owned by institutional investors.
In other news, Chairman Steven F. Udvar-Hazy sold 249,991 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $39.25, for a total transaction of $9,812,146.75. Following the sale, the chairman now owns 1,334,842 shares in the company, valued at $52,392,548.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marc H. Baer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.34, for a total transaction of $221,700.00. Following the sale, the executive vice president now owns 130,008 shares in the company, valued at approximately $5,764,554.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 911,649 shares of company stock worth $35,904,901. Corporate insiders own 8.76% of the company’s stock.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.17). Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The firm had revenue of $471.40 million for the quarter, compared to analysts’ expectations of $483.40 million. During the same quarter in the previous year, the company earned $1.44 EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. Sell-side analysts expect that Air Lease Corp will post 5.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Sunday, September 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, September 12th. Air Lease’s payout ratio is 11.30%.
A number of equities research analysts have weighed in on AL shares. Cowen restated an “outperform” rating and issued a $49.00 price objective (down previously from $50.00) on shares of Air Lease in a report on Friday, August 9th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of 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, August 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.80.
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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