Air Lease (NYSE:AL) Director Sells $2,733,654.00 in Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 42,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $64.02, for a total value of $2,733,654.00. Following the transaction, the director directly owned 1,300 shares in the company, valued at approximately $83,226. This represents a 97.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Air Lease Trading Down 0.2%

Shares of AL stock traded down $0.12 on Tuesday, reaching $63.99. 1,598,469 shares of the company’s stock were exchanged, compared to its average volume of 2,121,652. The company’s fifty day simple moving average is $63.76 and its 200 day simple moving average is $60.71. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.30. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $7.15 billion, a PE ratio of 7.41 and a beta of 1.19.

Air Lease (NYSE:AL) last released its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The business had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. During the same quarter last year, the firm posted $0.82 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

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

Institutional Trading of Air Lease

Large investors have recently made changes to their positions in the company. Cetera Investment Advisers grew its stake in shares of Air Lease by 31.3% during the first quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock worth $958,000 after purchasing an additional 4,725 shares in the last quarter. LPL Financial LLC raised its stake in Air Lease by 11.3% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Air Lease by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,146,621 shares of the transportation company’s stock worth $55,393,000 after purchasing an additional 5,027 shares during the last quarter. Deutsche Bank AG raised its stake in Air Lease by 7.8% during the 1st quarter. Deutsche Bank AG now owns 6,908 shares of the transportation company’s stock valued at $334,000 after acquiring an additional 500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Air Lease by 206.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,181 shares of the transportation company’s stock valued at $3,487,000 after purchasing an additional 48,600 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.