Air Lease (NYSE:AL) Director Matthew Hart Sells 19,627 Shares

Air Lease Corporation (NYSE:AL) Director Matthew Hart sold 19,627 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $63.78, for a total transaction of $1,251,810.06. Following the completion of the sale, the director owned 40,587 shares in the company, valued at $2,588,638.86. This represents a 32.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Air Lease Price Performance

AL stock opened at $63.84 on Thursday. The company has a market capitalization of $7.13 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36. 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 Corporation has a 52-week low of $38.25 and a 52-week high of $64.30. The business has a 50-day simple moving average of $63.63 and a two-hundred day simple moving average of $59.26.

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

Air Lease Dividend Announcement

The company also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease’s payout ratio is currently 10.20%.

Hedge Funds Weigh In On Air Lease

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Air Lease by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock valued at $318,479,000 after buying an additional 31,274 shares during the period. Wellington Management Group LLP raised its stake in Air Lease by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock valued at $263,476,000 after acquiring an additional 69,629 shares during the period. JPMorgan Chase & Co. lifted its holdings in Air Lease by 1.2% during the first quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock valued at $242,778,000 after purchasing an additional 60,216 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after purchasing an additional 265,423 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Air Lease by 10.4% in the first quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock worth $172,143,000 after purchasing an additional 336,376 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cowen downgraded shares of 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 report on Wednesday, November 5th. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut shares of 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, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Five 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.29.

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.