Osborne Partners Capital Management LLC Sells 55,286 Shares of Air Lease Corporation $AL

Osborne Partners Capital Management LLC decreased its stake in Air Lease Corporation (NYSE:AL) by 42.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,185 shares of the transportation company’s stock after selling 55,286 shares during the period. Osborne Partners Capital Management LLC owned about 0.07% of Air Lease worth $4,722,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Air Lease during the third quarter worth $29,000. True Wealth Design LLC grew its position in Air Lease by 2,980.0% during the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares during the last quarter. First Horizon Corp acquired a new position in Air Lease in the 3rd quarter worth about $31,000. Nisa Investment Advisors LLC increased its holdings in Air Lease by 129.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after purchasing an additional 298 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 407 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Price Performance

Air Lease stock opened at $64.36 on Wednesday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.56 and a beta of 1.15. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.40. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day moving average price is $64.08 and its two-hundred day moving average price is $62.11.

Air Lease (NYSE:AL) last released its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. The company had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. Air Lease’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. On average, equities analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th were paid a $0.22 dividend. The ex-dividend date was 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 currently 10.20%.

Insider Activity at Air Lease

In other news, EVP Kishore Korde sold 20,662 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the sale, the executive vice president owned 50,091 shares in the company, valued at $3,210,833.10. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.12, for a total value of $1,218,280.00. Following the completion of the transaction, the director owned 1,391,366 shares in the company, valued at approximately $89,214,387.92. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 760,593 shares of company stock valued at $48,668,588 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

AL has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Barclays reiterated an “equal weight” rating and set a $65.00 price target (down previously from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.17.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.