Summit Global Investments Invests $516,000 in Air Lease Corporation $AL

Summit Global Investments bought a new stake in Air Lease Corporation (NYSE:AL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,829 shares of the transportation company's stock, valued at approximately $516,000.

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Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company's stock worth $33,000 after purchasing an additional 407 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Air Lease by 264.1% in the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after purchasing an additional 647 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Air Lease in the first quarter valued at approximately $52,000. Finally, Hilltop National Bank purchased a new position in Air Lease during the second quarter worth approximately $127,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Up 0.0%

Shares of AL opened at $63.87 on Wednesday. The company's 50-day moving average price is $63.67 and its 200 day moving average price is $60.22. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The firm has a market cap of $7.14 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36.

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Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.13. The business had revenue of $725.39 million during the quarter, compared to analysts' expectations of $744.59 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. On average, sell-side analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease's payout ratio is presently 10.20%.

Wall Street Analyst Weigh In

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Several brokerages have issued reports on AL. Cowen cut Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Zacks Research cut shares of Air Lease from a "hold" rating to a "strong sell" rating in a research report on Wednesday, November 5th. TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Air Lease in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $59.50.

Read Our Latest Report on Air Lease

Insider Transactions at Air Lease

In other Air Lease news, Director Steven F. Udvar-Hazy sold 5,000 shares of the company's stock in a transaction on Monday, November 24th. The stock was sold at an average price of $63.85, for a total transaction of $319,250.00. Following the transaction, the director directly owned 1,517,366 shares in the company, valued at $96,883,819.10. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 144,475 shares of company stock valued at $9,218,671 over the last 90 days. 6.64% of the stock is owned by insiders.

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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Want to see what other hedge funds are holding AL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Lease Corporation (NYSE:AL - Free Report).

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