Loomis Sayles & Co. L P Has $19.38 Million Stake in Air Lease Corporation $AL

Loomis Sayles & Co. L P lessened its stake in shares of Air Lease Corporation (NYSE:AL) by 39.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 331,248 shares of the transportation company’s stock after selling 213,768 shares during the period. Loomis Sayles & Co. L P owned 0.30% of Air Lease worth $19,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AL. Brooklyn Investment Group increased its stake in Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 355 shares in the last quarter. Parkside Financial Bank & Trust boosted its position 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 in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock valued at $43,000 after buying an additional 647 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Air Lease by 120.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the transportation company’s stock valued at $46,000 after buying an additional 432 shares during the period. Finally, SVB Wealth LLC bought a new stake in Air Lease in the 1st quarter valued at about $52,000. 94.59% of the stock is owned by institutional investors.

Air Lease Trading Up 0.1%

Shares of Air Lease stock opened at $63.93 on Monday. The company has a market capitalization of $7.15 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36. The stock has a fifty day simple moving average of $63.69 and a 200 day simple moving average of $60.37. 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.

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

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s payout ratio is 10.20%.

Insider Transactions at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $63.85, for a total value of $319,250.00. Following the transaction, the director owned 1,517,366 shares in the company, valued at $96,883,819.10. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kishore Korde sold 30,160 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total value of $1,927,224.00. Following the sale, the executive vice president directly owned 79,263 shares of the company’s stock, valued at $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 174,635 shares of company stock valued at $11,145,895 over the last ninety days. 6.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

About Air Lease

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.