Underhill Investment Management LLC boosted its holdings in Air Lease Corp (NYSE:AL) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 523,225 shares of the transportation company’s stock after acquiring an additional 61,350 shares during the quarter. Air Lease comprises about 10.1% of Underhill Investment Management LLC’s investment portfolio, making the stock its 4th biggest holding. Underhill Investment Management LLC owned 0.50% of Air Lease worth $15,807,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Capital International Investors purchased a new position in Air Lease in the 3rd quarter worth about $18,031,000. Zweig DiMenna Associates LLC increased its stake in Air Lease by 113.6% in the 4th quarter. Zweig DiMenna Associates LLC now owns 565,276 shares of the transportation company’s stock worth $17,077,000 after purchasing an additional 300,685 shares in the last quarter. Selz Capital LLC increased its stake in Air Lease by 24.8% in the 4th quarter. Selz Capital LLC now owns 1,234,800 shares of the transportation company’s stock worth $37,303,000 after purchasing an additional 245,000 shares in the last quarter. Northern Trust Corp increased its stake in Air Lease by 16.0% in the 2nd quarter. Northern Trust Corp now owns 1,307,980 shares of the transportation company’s stock worth $54,896,000 after purchasing an additional 180,588 shares in the last quarter. Finally, FMR LLC increased its stake in Air Lease by 5.4% in the 2nd quarter. FMR LLC now owns 3,490,348 shares of the transportation company’s stock worth $146,490,000 after purchasing an additional 178,070 shares in the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
In other news, insider Steven F. Udvar-Hazy purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average price of $35.77 per share, with a total value of $71,540.00. Following the purchase, the insider now owns 947,682 shares in the company, valued at approximately $33,898,585.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven F. Udvar-Hazy purchased 3,000 shares of the stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average cost of $34.29 per share, with a total value of $102,870.00. Following the purchase, the insider now owns 947,682 shares in the company, valued at approximately $32,496,015.78. The disclosure for this purchase can be found here. Insiders own 9.32% of the company’s stock.
Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, November 8th. The transportation company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The business had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $443.01 million. Air Lease had a return on equity of 11.44% and a net margin of 51.81%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 EPS. On average, analysts predict that Air Lease Corp will post 4.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 9th. Investors of record on Thursday, December 13th were paid a $0.13 dividend. This is a boost from Air Lease’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, December 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.37%. Air Lease’s payout ratio is presently 14.25%.
A number of equities analysts recently weighed in on AL shares. Zacks Investment Research raised Air Lease from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Monday, November 26th. ValuEngine raised Air Lease from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Cowen reaffirmed a “buy” rating and set a $54.00 target price on shares of Air Lease in a research note on Friday, November 30th. TheStreet cut Air Lease from a “b-” rating to a “c+” rating in a research note on Wednesday, January 2nd. Finally, Seaport Global Securities assumed coverage on Air Lease in a research note on Wednesday, October 10th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Air Lease presently has a consensus rating of “Buy” and an average price target of $53.77.
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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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