JPMorgan Chase & Co. Reduces Stock Position in Air Lease Corporation $AL

JPMorgan Chase & Co. reduced its stake in Air Lease Corporation (NYSE:AL) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,796,976 shares of the transportation company’s stock after selling 228,445 shares during the period. JPMorgan Chase & Co. owned approximately 4.29% of Air Lease worth $280,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in Air Lease by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock worth $2,035,000 after purchasing an additional 234 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Air Lease by 0.7% during the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock valued at $2,398,000 after buying an additional 273 shares during the period. Ellevest Inc. lifted its holdings in shares of Air Lease by 4.2% in the second quarter. Ellevest Inc. now owns 7,064 shares of the transportation company’s stock worth $413,000 after buying an additional 284 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Air Lease by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 35,419 shares of the transportation company’s stock worth $2,072,000 after buying an additional 319 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 355 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Air Lease news, CFO Gregory B. Willis sold 23,481 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $63.83, for a total value of $1,498,792.23. Following the completion of the sale, the chief financial officer owned 56,408 shares in the company, valued at approximately $3,600,522.64. The trade was a 29.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven F. Udvar-Hazy sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $63.84, for a total value of $446,880.00. Following the sale, the director directly owned 1,528,366 shares of the company’s stock, valued at approximately $97,570,885.44. This trade represents a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 109,175 shares of company stock valued at $6,965,626. 6.64% of the stock is owned by insiders.

Air Lease Trading Up 0.1%

Shares of AL opened at $63.86 on Tuesday. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30. The firm 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 firm has a 50 day moving average price of $63.66 and a 200-day moving average price of $60.14. 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 issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The company had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease’s payout ratio is 10.20%.

Analyst Ratings Changes

AL has been the topic of a number of analyst reports. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a 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. Zacks Research downgraded Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.50.

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.