Bank of Montreal Can decreased its position in shares of Air Lease Corp (NYSE:AL) by 73.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,767 shares of the transportation company’s stock after selling 4,826 shares during the period. Bank of Montreal Can’s holdings in Air Lease were worth $61,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sageworth Trust Co purchased a new position in shares of Air Lease in the 1st quarter valued at approximately $26,000. Penserra Capital Management LLC purchased a new stake in Air Lease during the fourth quarter worth $27,000. First Mercantile Trust Co. boosted its position in Air Lease by 41.5% during the fourth quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in Air Lease during the fourth quarter worth $30,000. Finally, Berman Capital Advisors LLC purchased a new stake in Air Lease during the fourth quarter worth $60,000. 85.64% of the stock is currently owned by institutional investors.
NYSE:AL remained flat at $$41.34 on Monday. The company’s stock had a trading volume of 714,198 shares, compared to its average volume of 916,358. The company has a market capitalization of $4.71 billion, a PE ratio of 8.99, a PEG ratio of 1.17 and a beta of 1.98. Air Lease Corp has a 12 month low of $28.13 and a 12 month high of $47.34. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $38.42.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s dividend payout ratio is currently 11.30%.
A number of analysts have commented on the company. ValuEngine upgraded Air Lease from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Zacks Investment Research raised Air Lease from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Goldman Sachs Group assumed coverage on Air Lease in a report on Monday, April 8th. They issued a “buy” rating and a $52.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.56.
In other news, CEO John L. Plueger sold 395,806 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $38.16, for a total transaction of $15,103,956.96. Following the sale, the chief executive officer now directly owns 914,145 shares in the company, valued at approximately $34,883,773.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John L. Plueger sold 50,671 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $38.59, for a total value of $1,955,393.89. Following the sale, the chief executive officer now owns 914,145 shares in the company, valued at $35,276,855.55. The disclosure for this sale can be found here. Insiders sold 576,477 shares of company stock valued at $21,843,351 in the last three months. 8.76% of the stock is currently owned by company insiders.
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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