Air Lease Corporation $AL Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC lessened its holdings in shares of Air Lease Corporation (NYSE:AL) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,160 shares of the transportation company’s stock after selling 2,340 shares during the period. Cohen Klingenstein LLC’s holdings in Air Lease were worth $1,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AL. Dimensional Fund Advisors LP grew its holdings in shares of Air Lease by 0.5% during 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 purchasing an additional 31,274 shares during the last quarter. Wellington Management Group LLP boosted its position in Air Lease by 1.3% during 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 purchasing an additional 69,629 shares during the period. JPMorgan Chase & Co. grew its stake in Air Lease by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock worth $242,778,000 after buying an additional 60,216 shares during the last quarter. American Century Companies Inc. increased its position in 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 buying an additional 336,376 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Air Lease by 19.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company’s stock worth $162,492,000 after buying an additional 553,080 shares during the period. Institutional investors own 94.59% of the company’s stock.

Insider Activity

In other Air Lease news, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares in the company, valued at approximately $887,514.10. The trade was a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock valued at $746,380. Corporate insiders own 6.64% of the company’s stock.

Air Lease Price Performance

NYSE AL opened at $63.60 on Thursday. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The business’s fifty day moving average is $60.24 and its two-hundred day moving average is $55.19. The stock has a market capitalization of $7.11 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37. 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 released its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, research analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s dividend payout ratio is currently 10.68%.

Wall Street Analyst Weigh In

AL has been the subject of several analyst reports. Barclays reissued an “overweight” rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Air Lease presently has an average rating of “Hold” and an average 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.