Air Lease Corporation $AL Stock Holdings Lessened by Cohen Klingenstein LLC

Cohen Klingenstein LLC cut its stake in shares of Air Lease Corporation (NYSE:AL) by 10.4% during the second quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Air Lease by 0.5% during the 1st 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 boosted its position in Air Lease by 1.3% during the first 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 last quarter. JPMorgan Chase & Co. grew its stake in Air Lease by 1.2% in 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 in the last quarter. American Century Companies Inc. increased its position in Air Lease by 10.4% in the 1st 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Air Lease by 19.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company’s stock worth $162,492,000 after purchasing an additional 553,080 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AL. TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. 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. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Barclays reiterated an “overweight” rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Air Lease has a consensus rating of “Hold” and an average price target of $60.29.

Air Lease Price Performance

Shares of Air Lease stock opened at $63.60 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The firm has a fifty day simple moving average of $60.24 and a 200-day simple moving average of $55.19. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.66 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.

Air Lease (NYSE:AL) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. On average, sell-side analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

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

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the sale, the executive vice president 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Beker sold 5,000 shares of the company’s stock in a transaction 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 owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,000 shares of company stock valued at $746,380. 6.64% of the stock is owned by corporate insiders.

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.