Nuveen Asset Management LLC Purchases New Stake in Air Lease Corp (NYSE:AL)

Nuveen Asset Management LLC purchased a new stake in Air Lease Corp (NYSE:AL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 376,400 shares of the transportation company’s stock, valued at approximately $15,560,000. Nuveen Asset Management LLC owned 0.34% of Air Lease as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AL. Parallel Advisors LLC raised its stake in shares of Air Lease by 1,196.6% during the second quarter. Parallel Advisors LLC now owns 765 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 706 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Air Lease during the second quarter valued at approximately $32,000. Permanens Capital L.P. raised its stake in shares of Air Lease by 33.3% during the second quarter. Permanens Capital L.P. now owns 1,000 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 250 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Air Lease during the second quarter valued at approximately $54,000. Finally, SeaBridge Investment Advisors LLC raised its stake in shares of Air Lease by 50.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 1,500 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 91.30% of the company’s stock.

A number of analysts have recently issued reports on AL shares. ValuEngine upgraded shares of Air Lease from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a research note on Friday, August 2nd. Finally, Cowen reissued an “outperform” rating and set a $49.00 price target (down previously from $50.00) on shares of Air Lease in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $47.80.

AL stock opened at $39.10 on Wednesday. Air Lease Corp has a twelve month low of $28.13 and a twelve month high of $45.43. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $4.36 billion, a P/E ratio of 8.50, a PEG ratio of 0.74 and a beta of 1.89. The firm has a 50 day simple moving average of $41.39 and a 200-day simple moving average of $39.32.

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

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Sunday, September 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, September 12th. Air Lease’s payout ratio is currently 11.30%.

In other Air Lease news, Chairman Steven F. Udvar-Hazy sold 249,991 shares of Air Lease stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $39.25, for a total value of $9,812,146.75. Following the completion of the transaction, the chairman now owns 1,334,842 shares of the company’s stock, valued at $52,392,548.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven F. Udvar-Hazy sold 507,789 shares of Air Lease stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.58, for a total transaction of $19,590,499.62. Following the completion of the transaction, the insider now directly owns 1,334,842 shares of the company’s stock, valued at approximately $51,498,204.36. The disclosure for this sale can be found here. Insiders have sold 911,649 shares of company stock valued at $35,904,901 in the last three months. Corporate insiders own 8.76% of the company’s stock.

Air Lease Profile

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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