Wedge Capital Management L L P NC bought a new position in shares of Air Lease Co. (NYSE:AL – Get Rating) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 210,713 shares of the transportation company’s stock, valued at approximately $7,044,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. HighTower Advisors LLC lifted its position in shares of Air Lease by 289.3% in the fourth quarter. HighTower Advisors LLC now owns 20,229 shares of the transportation company’s stock valued at $894,000 after acquiring an additional 15,033 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Air Lease by 6.9% in the fourth quarter. JPMorgan Chase & Co. now owns 365,310 shares of the transportation company’s stock worth $16,158,000 after buying an additional 23,687 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Air Lease by 2.7% in the fourth quarter. Rhumbline Advisers now owns 98,506 shares of the transportation company’s stock worth $4,357,000 after buying an additional 2,617 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Air Lease by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,120,972 shares of the transportation company’s stock worth $49,581,000 after acquiring an additional 43,125 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Air Lease by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,325,528 shares of the transportation company’s stock valued at $58,628,000 after acquiring an additional 53,953 shares in the last quarter. Hedge funds and other institutional investors own 88.87% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Barclays decreased their target price on shares of Air Lease from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th.
Air Lease Stock Down 1.6 %
Air Lease (NYSE:AL – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.10). Air Lease had a negative net margin of 4.99% and a positive return on equity of 7.88%. The company had revenue of $557.70 million during the quarter, compared to analysts’ expectations of $542.23 million. During the same quarter last year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that Air Lease Co. will post -1.09 EPS for the current year.
Air Lease Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Monday, September 12th will be given a dividend of $0.185 per share. The ex-dividend date is Friday, September 9th. This represents a $0.74 annualized dividend and a dividend yield of 2.14%. Air Lease’s dividend payout ratio (DPR) is currently -64.35%.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, airlines, and other investors.
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