Connable Office Inc. continued to hold its stake in shares of Air Lease Corporation (NYSE:AL) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,500 shares of the transportation company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Air Lease Corporation were worth $205,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Air Lease Corporation during the fourth quarter valued at about $14,466,000. Teachers Advisors LLC raised its stake in shares of Air Lease Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 96,734 shares of the transportation company’s stock valued at $3,321,000 after buying an additional 1,850 shares in the last quarter. Chesley Taft & Associates LLC acquired a new stake in shares of Air Lease Corporation during the first quarter valued at about $314,000. Bank of Montreal Can raised its stake in shares of Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after buying an additional 35 shares in the last quarter. Finally, Graybill Bartz & Assoc Ltd. raised its stake in shares of Air Lease Corporation by 1.8% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 109,334 shares of the transportation company’s stock valued at $4,237,000 after buying an additional 1,890 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Air Lease Corporation (NYSE AL) opened at 40.01 on Friday. The company has a market cap of $4.13 billion, a P/E ratio of 11.65 and a beta of 1.78. Air Lease Corporation has a 1-year low of $27.05 and a 1-year high of $43.39. The stock’s 50 day moving average price is $39.21 and its 200 day moving average price is $38.14.

Air Lease Corporation (NYSE:AL) last posted its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. During the same quarter in the previous year, the business earned $1.39 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 13th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.

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AL has been the subject of several research analyst reports. FBR & Co decreased their target price on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Air Lease Corporation in a research report on Friday, May 5th. Zacks Investment Research lowered Air Lease Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. ValuEngine raised Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, Morgan Stanley raised their target price on Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.25.

In related news, EVP Jie Chen sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Grant A. Levy sold 27,854 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the sale, the executive vice president now owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,854 shares of company stock valued at $1,568,909. 9.76% of the stock is owned by company insiders.

Air Lease Corporation 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.

Institutional Ownership by Quarter for Air Lease Corporation (NYSE:AL)

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