Harbor Capital Advisors Inc. Has $7.97 Million Position in Air Lease Corporation $AL

Key Points

• Harbor Capital Advisors Inc. decreased its stake in Air Lease Corporation by 28.4%, holding approximately $7.97 million worth of shares after selling 54,118 shares in the 2nd quarter.
• Analysts have varying opinions on the stock, with Citigroup upgrading it to a "buy" with a price target of $68.00, while TD Cowen and Deutsche Bank downgraded their ratings.
• Air Lease announced a quarterly dividend of $0.22 per share, representing a 1.4% dividend yield, with an ex-dividend date of September 3rd.

Harbor Capital Advisors Inc. reduced its position in Air Lease Corporation (NYSE:AL - Free Report) by 28.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,178 shares of the transportation company's stock after selling 54,118 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.12% of Air Lease worth $7,965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AL. M&T Bank Corp increased its position in shares of Air Lease by 3.6% in the first quarter. M&T Bank Corp now owns 14,793 shares of the transportation company's stock worth $714,000 after acquiring an additional 508 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Air Lease by 18.7% in the first quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company's stock valued at $503,000 after buying an additional 1,640 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in shares of Air Lease during the 1st quarter valued at about $348,000. Neo Ivy Capital Management acquired a new position in Air Lease during the 1st quarter worth approximately $1,347,000. Finally, LPL Financial LLC boosted its holdings in Air Lease by 11.3% in the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company's stock worth $2,186,000 after acquiring an additional 4,601 shares during the period. Institutional investors and hedge funds own 94.59% of the company's stock.

Insider Buying and Selling at Air Lease

In other news, EVP David Beker sold 5,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $317,850.00. Following the sale, the executive vice president owned 141,316 shares in the company, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock valued at $746,380. Insiders own 6.64% of the company's stock.

Air Lease Stock Performance

Shares of AL stock traded up $0.05 during trading hours on Friday, reaching $63.60. The stock had a trading volume of 2,358,735 shares, compared to its average volume of 3,060,336. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50-day simple moving average of $59.36 and a 200-day simple moving average of $54.17. The firm has a market capitalization of $7.11 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30.

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

Air Lease Dividend Announcement

The company also recently declared 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. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease's dividend payout ratio (DPR) is presently 10.68%.

Analyst Ratings Changes

AL has been the topic of a number of recent research reports. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a research note on Wednesday, September 3rd. TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Barclays reissued an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock 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.