Stanley Laman Group Ltd. reduced its stake in shares of Air Lease Corporation (NYSE:AL – Free Report) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,444 shares of the transportation company’s stock after selling 8,370 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.07% of Air Lease worth $4,822,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in Air Lease by 3.6% in the first quarter. M&T Bank Corp now owns 14,793 shares of the transportation company’s stock worth $714,000 after purchasing an additional 508 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Air Lease by 18.7% during the 1st quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company’s stock worth $503,000 after acquiring an additional 1,640 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in Air Lease during the first quarter valued at approximately $348,000. Neo Ivy Capital Management acquired a new stake in Air Lease in the first quarter valued at approximately $1,347,000. Finally, LPL Financial LLC grew its holdings in Air Lease by 11.3% in the first quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock worth $2,186,000 after purchasing an additional 4,601 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.
Air Lease Trading Up 0.2%
Shares of NYSE:AL opened at $63.67 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.66 and a beta of 1.37. The business has a 50-day moving average price of $62.07 and a 200-day moving average price of $56.47.
Air Lease Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 3rd. Air Lease’s dividend payout ratio is presently 10.68%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AL. Barclays reiterated an “overweight” rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered 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 report on Wednesday, September 3rd. Finally, Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Five 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.com, Air Lease currently has a consensus rating of “Hold” and a consensus target price of $60.29.
Get Our Latest Stock Report on AL
Insider Buying and Selling at Air Lease
In other Air Lease news, EVP David Beker sold 5,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,000 shares of company stock worth $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.
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