Baker Avenue Asset Management LP lifted its holdings in Air Lease Corp (NYSE:AL) by 14.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,207 shares of the transportation company’s stock after acquiring an additional 2,910 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Air Lease were worth $1,116,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Granite Springs Asset Management LLC acquired a new stake in Air Lease during the fourth quarter valued at $1,499,000. Quantitative Investment Management LLC boosted its position in Air Lease by 6.2% during the fourth quarter. Quantitative Investment Management LLC now owns 34,200 shares of the transportation company’s stock valued at $1,644,000 after purchasing an additional 2,000 shares during the last quarter. BlueCrest Capital Management Ltd boosted its position in Air Lease by 17.4% during the fourth quarter. BlueCrest Capital Management Ltd now owns 12,645 shares of the transportation company’s stock valued at $608,000 after purchasing an additional 1,878 shares during the last quarter. Capital Counsel LLC NY boosted its position in Air Lease by 0.4% during the fourth quarter. Capital Counsel LLC NY now owns 628,550 shares of the transportation company’s stock valued at $30,227,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in Air Lease during the fourth quarter valued at $268,000. 89.32% of the stock is owned by institutional investors and hedge funds.
Air Lease Corp (NYSE AL) opened at $43.88 on Monday. Air Lease Corp has a 1-year low of $34.42 and a 1-year high of $50.70. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $4,550.00, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.67 and a beta of 1.73.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Tuesday, March 20th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.40 annualized dividend and a yield of 0.91%. Air Lease’s dividend payout ratio (DPR) is currently 10.96%.
AL has been the subject of a number of research reports. Credit Suisse Group reissued an “outperform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Air Lease in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on Air Lease from $48.00 to $54.50 and gave the company an “overweight” rating in a research report on Tuesday, March 6th. ValuEngine cut Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Citigroup initiated coverage on Air Lease in a research report on Friday, December 8th. They set a “neutral” rating and a $46.00 price objective for the company. Finally, Zacks Investment Research cut Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.05.
In other news, Chairman Steven F. Udvar-Hazy sold 9,150 shares of Air Lease stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $43.25, for a total value of $395,737.50. Following the transaction, the chairman now directly owns 926,962 shares in the company, valued at $40,091,106.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kishore Korde sold 2,000 shares of Air Lease stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the executive vice president now owns 78,976 shares in the company, valued at $3,882,460.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,150 shares of company stock worth $3,532,648. Corporate insiders own 9.76% of the company’s stock.
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Air Lease 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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