Journey Strategic Wealth LLC Decreases Holdings in Air Lease Corporation $AL

Journey Strategic Wealth LLC lowered its position in Air Lease Corporation (NYSE:AL) by 35.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,672 shares of the transportation company’s stock after selling 2,054 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Air Lease were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Air Lease in the 1st quarter valued at $3,607,000. Cetera Investment Advisers lifted its stake in Air Lease by 31.3% in the first quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock worth $958,000 after purchasing an additional 4,725 shares during the last quarter. LPL Financial LLC boosted its position in Air Lease by 11.3% during the first quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after buying an additional 4,601 shares during the period. Mackenzie Financial Corp grew its stake in shares of Air Lease by 5.4% during the first quarter. Mackenzie Financial Corp now owns 32,375 shares of the transportation company’s stock valued at $1,564,000 after buying an additional 1,650 shares during the last quarter. Finally, Thornburg Investment Management Inc. grew its stake in shares of Air Lease by 5.6% during the first quarter. Thornburg Investment Management Inc. now owns 175,146 shares of the transportation company’s stock valued at $8,461,000 after buying an additional 9,298 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AL has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Wednesday, September 3rd. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Four equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.50.

Air Lease Stock Performance

Air Lease stock opened at $63.86 on Tuesday. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.66 and a beta of 1.36. The stock’s 50 day simple moving average is $63.66 and its two-hundred day simple moving average is $60.14. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42.

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

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders 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 dividend payout ratio (DPR) is presently 10.20%.

Insider Transactions at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $63.93, for a total transaction of $767,160.00. Following the sale, the director owned 15,550 shares in the company, valued at $994,111.50. This represents a 43.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory B. Willis sold 23,481 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $63.83, for a total value of $1,498,792.23. Following the sale, the chief financial officer owned 56,408 shares in the company, valued at approximately $3,600,522.64. This represents a 29.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 109,175 shares of company stock valued at $6,965,626. 6.64% of the stock is currently owned by insiders.

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.