Harbor Capital Advisors Inc. Has $7.97 Million Stock Holdings 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% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,178 shares of the transportation company's stock after selling 54,118 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.12% of Air Lease worth $7,965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Air Lease by 19.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock valued at $162,492,000 after acquiring an additional 553,080 shares during the period. M3F Inc. bought a new position in shares of Air Lease during the first quarter valued at $19,776,000. Waverton Investment Management Ltd bought a new position in shares of Air Lease during the first quarter valued at $18,312,000. American Century Companies Inc. lifted its holdings in shares of Air Lease by 10.4% during the first quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock valued at $172,143,000 after acquiring an additional 336,376 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Air Lease by 18,200.7% during the first quarter. MetLife Investment Management LLC now owns 335,268 shares of the transportation company's stock valued at $16,197,000 after acquiring an additional 333,436 shares during the period. 94.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AL. TD Cowen cut Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft cut Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a report on Wednesday, September 3rd. Barclays reaffirmed an "overweight" rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.29.

Insider Activity at Air Lease

In other news, EVP David Beker sold 2,000 shares of the stock in a transaction 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 owned 19,770 shares in the company, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company's stock.

Air Lease Trading Up 0.1%

Shares of NYSE AL opened at $63.56 on Tuesday. The business's 50 day moving average is $58.96 and its two-hundred day moving average is $53.79. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.30. The stock has a market capitalization of $7.10 billion, a P/E ratio of 7.71, a PEG ratio of 0.65 and a beta of 1.37.

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

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease's dividend payout ratio is currently 10.68%.

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.

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