Tyers Asset Management LLC grew its stake in Air Lease Corp (NYSE:AL) by 85.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,616 shares of the transportation company’s stock after purchasing an additional 5,344 shares during the quarter. Tyers Asset Management LLC’s holdings in Air Lease were worth $480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Air Lease by 54.3% during the first quarter. Wells Fargo & Company MN now owns 1,210,056 shares of the transportation company’s stock worth $41,565,000 after purchasing an additional 426,051 shares during the period. Lazard Asset Management LLC raised its stake in Air Lease by 13,932.3% during the first quarter. Lazard Asset Management LLC now owns 354,174 shares of the transportation company’s stock worth $12,165,000 after purchasing an additional 351,650 shares during the period. Meitav Dash Investments Ltd. purchased a new position in Air Lease during the first quarter worth about $10,320,000. Copper Rock Capital Partners LLC raised its stake in Air Lease by 64.5% during the second quarter. Copper Rock Capital Partners LLC now owns 653,602 shares of the transportation company’s stock worth $27,020,000 after purchasing an additional 256,211 shares during the period. Finally, Federated Investors Inc. PA raised its stake in Air Lease by 13.4% during the first quarter. Federated Investors Inc. PA now owns 2,121,044 shares of the transportation company’s stock worth $72,858,000 after purchasing an additional 251,000 shares during the period. Institutional investors and hedge funds own 91.67% of the company’s stock.

In related news, Chairman Steven F. Udvar-Hazy sold 249,991 shares of the company’s 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 directly owns 1,334,842 shares of the company’s stock, valued at approximately $52,392,548.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven F. Udvar-Hazy sold 5,763 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.63, for a total transaction of $222,624.69. Following the sale, the chairman now directly owns 1,308,378 shares in the company, valued at $50,542,642.14. The disclosure for this sale can be found here. Insiders sold a total of 911,649 shares of company stock worth $35,904,901 over the last three months. Insiders own 8.76% of the company’s stock.

AL has been the topic of a number of analyst reports. ValuEngine downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Cowen reaffirmed an “outperform” rating and set a $49.00 target price (down from $50.00) on shares of Air Lease in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Air Lease has a consensus rating of “Hold” and an average price target of $47.80.

Shares of Air Lease stock traded down $0.35 on Friday, reaching $44.53. The company had a trading volume of 23,605 shares, compared to its average volume of 687,609. The firm’s 50 day moving average price is $40.45 and its two-hundred day moving average price is $38.55. The firm has a market cap of $5.01 billion, a PE ratio of 9.70, a PEG ratio of 0.80 and a beta of 1.92. Air Lease Corp has a 52-week low of $28.13 and a 52-week high of $46.61. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.64 and a current ratio of 0.64.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 8th. The transportation company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.17). The company had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $483.40 million. Air Lease had a net margin of 30.00% and a return on equity of 11.16%. Air Lease’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share. As a group, sell-side analysts predict that Air Lease Corp will post 5.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Sunday, September 15th will be paid a $0.13 dividend. 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 dividend payout ratio (DPR) is 11.30%.

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

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