10,000 Shares in Air Lease Corporation $AL Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ bought a new position in Air Lease Corporation (NYSE:AL) during the third quarter, Holdings Channel reports. The institutional investor bought 10,000 shares of the transportation company’s stock, valued at approximately $636,000.

Several other institutional investors also recently made changes to their positions in AL. Credit Industriel ET Commercial acquired a new stake in shares of Air Lease during the 3rd quarter worth approximately $1,273,000. State of New Jersey Common Pension Fund D grew its stake in Air Lease by 3.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 36,138 shares of the transportation company’s stock worth $2,300,000 after buying an additional 1,080 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Air Lease by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company’s stock worth $710,000 after buying an additional 205 shares during the period. Public Sector Pension Investment Board increased its position in Air Lease by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 409,795 shares of the transportation company’s stock worth $26,083,000 after buying an additional 55,458 shares during the period. Finally, Alpine Associates Management Inc. acquired a new position in shares of Air Lease during the third quarter valued at $3,043,000. 94.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on AL shares. Barclays reaffirmed an “equal weight” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Air Lease has an average rating of “Hold” and an average target price of $59.60.

Air Lease Price Performance

Shares of AL opened at $64.92 on Friday. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.92. The stock’s fifty day moving average is $64.40 and its 200-day moving average is $63.23. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million during the quarter, compared to analyst estimates of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. Air Lease’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Equities analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be given 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 Monday, March 2nd. Air Lease’s dividend payout ratio is 9.45%.

Insider Buying and Selling at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 64,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the completion of the transaction, the director owned 74,000 shares of the company’s stock, valued at $4,737,480. This trade represents a 46.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kishore Korde sold 30,160 shares of Air Lease stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total value of $1,927,224.00. Following the transaction, the executive vice president directly owned 79,263 shares in the company, valued at approximately $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 641,418 shares of company stock valued at $41,062,322. 6.64% of the stock is owned by corporate insiders.

Air Lease Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.