Glenmede Trust Co. NA held its stake in Air Lease Corporation (NYSE:AL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,146 shares of the transportation company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Air Lease Corporation were worth $176,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AL. Bank of Montreal Can raised its stake in 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 during the period. Garrison Bradford & Associates Inc. raised its stake in Air Lease Corporation by 0.9% in the first quarter. Garrison Bradford & Associates Inc. now owns 21,900 shares of the transportation company’s stock worth $849,000 after buying an additional 200 shares during the last quarter. Suntrust Banks Inc. raised its stake in Air Lease Corporation by 1.8% in the first quarter. Suntrust Banks Inc. now owns 12,725 shares of the transportation company’s stock worth $493,000 after buying an additional 231 shares during the last quarter. Ingalls & Snyder LLC raised its stake in Air Lease Corporation by 1.1% in the first quarter. Ingalls & Snyder LLC now owns 76,225 shares of the transportation company’s stock worth $2,954,000 after buying an additional 844 shares during the last quarter. Finally, Wright Investors Service Inc. raised its stake in Air Lease Corporation by 8.6% in the first quarter. Wright Investors Service Inc. now owns 11,325 shares of the transportation company’s stock worth $439,000 after buying an additional 900 shares during the last quarter. 92.12% of the stock is currently owned by institutional investors.
Shares of Air Lease Corporation (AL) opened at 39.19 on Tuesday. The firm has a 50-day moving average price of $37.43 and a 200-day moving average price of $37.25. Air Lease Corporation has a 52 week low of $27.05 and a 52 week high of $40.24. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 11.67 and a beta of 1.77.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Wednesday, June 14th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.77%. Air Lease Corporation’s dividend payout ratio is 8.90%.
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A number of analysts recently commented on AL shares. Zacks Investment Research lowered Air Lease Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. Morgan Stanley lowered Air Lease Corporation from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $40.00 to $42.00 in a research note on Thursday, April 6th. Barclays PLC started coverage on Air Lease Corporation in a research note on Monday, July 10th. They set an “overweight” rating and a $48.00 price objective on the stock. FBR & Co decreased their price objective on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, May 15th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Air Lease Corporation in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corporation presently has a consensus rating of “Buy” and a consensus price target of $44.86.
In other news, EVP Grant A. Levy sold 27,854 shares of Air Lease Corporation stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total transaction of $1,062,908.64. Following the transaction, the executive vice president now owns 210,824 shares in the company, valued at $8,045,043.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kishore Korde sold 2,000 shares of Air Lease Corporation stock in a transaction on Friday, April 28th. The shares were sold at an average price of $38.00, for a total value of $76,000.00. Following the transaction, the executive vice president now owns 88,410 shares in the company, valued at approximately $3,359,580. The disclosure for this sale can be found here. Insiders have sold 31,854 shares of company stock worth $1,214,909 in the last quarter. 9.76% of the stock is currently owned by corporate 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.
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