Huntington National Bank boosted its position in Air Lease Corp. (NYSE:AL) by 45.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,517 shares of the company’s stock after buying an additional 34,236 shares during the period. Huntington National Bank’s holdings in Air Lease Corp. were worth $2,933,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in Air Lease Corp. by 369.3% in the first quarter. Prudential Financial Inc. now owns 352,899 shares of the company’s stock worth $11,335,000 after buying an additional 277,700 shares during the last quarter. Douglas Lane & Associates LLC increased its position in Air Lease Corp. by 17.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,777,858 shares of the company’s stock worth $47,611,000 after buying an additional 260,841 shares during the last quarter. AMP Capital Investors Ltd purchased a new position in Air Lease Corp. during the first quarter worth about $3,239,000. Cambiar Investors LLC increased its position in Air Lease Corp. by 9.5% in the second quarter. Cambiar Investors LLC now owns 1,024,007 shares of the company’s stock worth $27,423,000 after buying an additional 88,972 shares during the last quarter. Finally, Sensato Investors LLC increased its position in Air Lease Corp. by 25.8% in the first quarter. Sensato Investors LLC now owns 416,200 shares of the company’s stock worth $13,368,000 after buying an additional 85,400 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.
Air Lease Corp. (NYSE:AL) traded down 0.35% during mid-day trading on Friday, hitting $28.23. The stock had a trading volume of 676,576 shares. Air Lease Corp. has a 1-year low of $22.47 and a 1-year high of $35.22. The stock has a market cap of $2.90 billion, a PE ratio of 8.96 and a beta of 1.59. The firm’s 50-day moving average price is $28.65 and its 200-day moving average price is $29.11.
Air Lease Corp. (NYSE:AL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm earned $350.10 million during the quarter, compared to analyst estimates of $349.19 million. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. On average, equities analysts expect that Air Lease Corp. will post $3.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Monday, September 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, September 8th. Air Lease Corp.’s dividend payout ratio is presently 6.37%.
AL has been the subject of a number of research reports. Zacks Investment Research upgraded Air Lease Corp. from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a report on Thursday, July 14th. FBR & Co reduced their price target on Air Lease Corp. from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corp. has a consensus rating of “Buy” and a consensus price target of $44.44.
Air Lease Corp. Company Profile
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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