Fox Run Management L.L.C. Takes Position in Air Lease Corporation $AL

Fox Run Management L.L.C. acquired a new position in shares of Air Lease Corporation (NYSE:AL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,602 shares of the transportation company’s stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AL. M&T Bank Corp boosted its stake in Air Lease by 3.6% in the 1st quarter. M&T Bank Corp now owns 14,793 shares of the transportation company’s stock worth $714,000 after purchasing an additional 508 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Air Lease in the first quarter valued at about $1,347,000. KLP Kapitalforvaltning AS boosted its position in shares of Air Lease by 7.4% during the second quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock worth $1,285,000 after buying an additional 1,500 shares during the period. Hsbc Holdings PLC bought a new position in shares of Air Lease during the first quarter worth about $987,000. Finally, LPL Financial LLC raised its position in Air Lease by 11.3% in the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after buying an additional 4,601 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AL has been the subject of several research reports. 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. Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. TD Cowen downgraded Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Cowen cut Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.29.

Air Lease Stock Up 0.0%

Shares of AL stock opened at $63.76 on Monday. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.66 and a beta of 1.36. The firm’s 50-day moving average is $63.57 and its 200-day moving average is $58.97. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.05. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The firm had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. During the same quarter in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

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

Insider Buying and Selling at Air Lease

In related news, CFO Gregory B. Willis sold 23,481 shares of Air Lease stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $63.83, for a total transaction of $1,498,792.23. Following the completion of the sale, the chief financial officer owned 56,408 shares of the company’s stock, valued at approximately $3,600,522.64. The trade was a 29.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,481 shares of company stock valued at $2,134,292 in the last quarter. 6.64% of the stock is currently owned by insiders.

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.