KLP Kapitalforvaltning AS Has $1.29 Million Stock Holdings in Air Lease Corporation $AL

KLP Kapitalforvaltning AS boosted its holdings in shares of Air Lease Corporation (NYSE:AL) by 7.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 21,900 shares of the transportation company’s stock after acquiring an additional 1,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Air Lease were worth $1,285,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of Air Lease by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock worth $2,035,000 after purchasing an additional 234 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Air Lease by 0.5% during the first quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company’s stock worth $2,720,000 after purchasing an additional 272 shares in the last quarter. MBM Wealth Consultants LLC boosted its position in shares of Air Lease by 2.1% during the first quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company’s stock worth $686,000 after purchasing an additional 284 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after purchasing an additional 355 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Air Lease by 4.4% during the first quarter. Xponance Inc. now owns 8,643 shares of the transportation company’s stock worth $418,000 after purchasing an additional 365 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Trading Up 0.1%

AL opened at $63.53 on Tuesday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.65 and a beta of 1.37. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The firm’s fifty day simple moving average is $61.39 and its 200 day simple moving average is $56.16. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm had revenue of $731.70 million for the quarter, compared to analysts’ expectations of $723.35 million. During the same period in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s payout ratio is 10.68%.

Insider Activity

In other Air Lease news, EVP David Beker sold 5,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at $887,514.10. The trade was a 26.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president directly owned 141,316 shares in the company, valued at $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $746,380 over the last three months. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AL. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Barclays reaffirmed an “overweight” rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Air Lease has an average rating of “Hold” and a consensus target price of $60.29.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.