Entropy Technologies LP Invests $452,000 in Air Lease Corporation (NYSE:AL)

Key Points

• Entropy Technologies LP has acquired a new position in Air Lease Corporation, purchasing 9,356 shares worth approximately $452,000.
• Air Lease recently reported an earnings per share (EPS) of $1.40 for the quarter, exceeding estimates, alongside a 9.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.22 per share, representing an annual yield of 1.5%.

Entropy Technologies LP acquired a new position in shares of Air Lease Corporation (NYSE:AL - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,356 shares of the transportation company's stock, valued at approximately $452,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of Air Lease by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company's stock worth $242,778,000 after acquiring an additional 60,216 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Air Lease by 19.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after acquiring an additional 553,080 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Air Lease by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock worth $124,282,000 after acquiring an additional 9,809 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Air Lease by 50.7% during the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after acquiring an additional 690,000 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its position in shares of Air Lease by 11.9% during the 1st quarter. Reinhart Partners LLC. now owns 1,773,830 shares of the transportation company's stock worth $85,694,000 after acquiring an additional 188,040 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Up 0.4%

AL opened at $58.32 on Thursday. The business has a 50 day moving average price of $57.35 and a two-hundred day moving average price of $51.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The company has a market cap of $6.52 billion, a PE ratio of 7.08, a P/E/G ratio of 0.60 and a beta of 1.41. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The firm had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The firm's revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.5%. Air Lease's dividend payout ratio is currently 10.68%.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of research analyst reports. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and upped their target price for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Barclays reissued an "overweight" rating and issued a $67.00 target price (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Insider Buying and Selling

In other Air Lease news, EVP David Beker sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total transaction of $110,880.00. Following the completion of the sale, the executive vice president directly owned 19,770 shares of the company's stock, valued at $1,096,048.80. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.64% of the stock is currently owned by corporate insiders.

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 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.

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