Copeland Capital Management LLC Cuts Position in Air Lease Corporation $AL

Copeland Capital Management LLC lessened its holdings in Air Lease Corporation (NYSE:AL) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,582,725 shares of the transportation company’s stock after selling 147,103 shares during the quarter. Air Lease accounts for approximately 1.9% of Copeland Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Copeland Capital Management LLC’s holdings in Air Lease were worth $92,574,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Air Lease in the first quarter worth $25,000. Brooklyn Investment Group raised its position in Air Lease by 152.4% during the first 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 raised its position in Air Lease by 88.1% during the first 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. raised its position in Air Lease by 264.1% during the first 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, SVB Wealth LLC bought a new stake in Air Lease during the first quarter worth $52,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

NYSE:AL opened at $63.61 on Friday. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30. The company has a market cap 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 firm’s fifty day moving average price is $60.36 and its two-hundred day moving average price is $55.30. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42.

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

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be issued a $0.22 dividend. 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 payout ratio is currently 10.68%.

Insider Buying and Selling at Air Lease

In related news, EVP David Beker sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total value 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. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Grant A. Levy sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the transaction, the executive vice president owned 141,316 shares in the company, valued at $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 worth $746,380. Corporate insiders own 6.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report 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 report on Wednesday, September 3rd. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Barclays reaffirmed an “overweight” rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a research 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 given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.29.

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.