Richard P Slaughter Associates Inc Trims Stock Position in Air Lease Corporation $AL

Richard P Slaughter Associates Inc trimmed its stake in Air Lease Corporation (NYSE:AL) by 74.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,091 shares of the transportation company’s stock after selling 12,178 shares during the period. Richard P Slaughter Associates Inc’s holdings in Air Lease were worth $239,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AL. Alpine Bank Wealth Management acquired a new position in shares of Air Lease in the first quarter valued at approximately $25,000. Brooklyn Investment Group grew its holdings in Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after acquiring an additional 355 shares in the last quarter. Versant Capital Management Inc grew its holdings in Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after acquiring an additional 348 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Air Lease by 264.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after acquiring an additional 647 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Air Lease during the 4th quarter worth approximately $52,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Trading Down 0.1%

Shares of AL opened at $63.53 on Monday. The business’s 50-day moving average price is $58.87 and its 200 day moving average price is $53.68. The stock has a market capitalization of $7.10 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.65 and a beta of 1.37. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The company had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. During the same quarter last year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. 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 Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease’s dividend payout ratio is presently 10.68%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Barclays reaffirmed an “overweight” rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, September 3rd. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, Citigroup upgraded shares of Air Lease from a “neutral” rating to a “buy” rating and raised their price target for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.29.

Insider Activity at Air Lease

In other Air Lease news, EVP David Beker sold 2,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the transaction, the executive vice president owned 19,770 shares of the company’s stock, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.64% of the company’s stock.

Air Lease 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.