Los Angeles Capital Management LLC Makes New Investment in Air Lease Corporation $AL

Los Angeles Capital Management LLC purchased a new stake in Air Lease Corporation (NYSE:AL) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 13,371 shares of the transportation company’s stock, valued at approximately $782,000.

A number of other large investors also recently made changes to their positions in AL. Fox Run Management L.L.C. purchased a new stake in shares of Air Lease in the second quarter valued at $737,000. Waverton Investment Management Ltd lifted its position in Air Lease by 7.1% during the second quarter. Waverton Investment Management Ltd now owns 405,769 shares of the transportation company’s stock worth $23,719,000 after buying an additional 26,917 shares during the period. Fourth Dimension Wealth LLC boosted its stake in Air Lease by 14.9% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 3,141 shares of the transportation company’s stock worth $184,000 after buying an additional 407 shares during the last quarter. Ellevest Inc. boosted its stake in Air Lease by 4.2% in the 2nd quarter. Ellevest Inc. now owns 7,064 shares of the transportation company’s stock worth $413,000 after buying an additional 284 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in Air Lease in the 2nd quarter valued at about $402,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

AL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Air Lease currently has an average rating of “Hold” and an average target price of $60.29.

Air Lease Stock Down 0.0%

AL opened at $63.85 on Friday. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The firm has a 50 day moving average price of $63.64 and a 200 day moving average price of $59.29. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $7.14 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. During the same period in the previous year, the company posted $0.82 earnings per share. Air Lease’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

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

Insider Activity

In other Air Lease news, CFO Gregory B. Willis sold 23,481 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.83, for a total transaction of $1,498,792.23. Following the transaction, the chief financial officer owned 56,408 shares in the company, valued at $3,600,522.64. The trade was a 29.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Beker sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at $887,514.10. The trade was a 26.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 78,408 shares of company stock worth $5,002,933 in the last quarter. Insiders own 6.64% of the company’s stock.

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.