Grant Levy Sells 3,110 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) EVP Grant Levy sold 3,110 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $63.80, for a total transaction of $198,418.00. Following the completion of the sale, the executive vice president owned 138,206 shares of the company’s stock, valued at $8,817,542.80. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Air Lease Stock Performance

NYSE:AL opened at $63.85 on Friday. The firm has a market capitalization of $7.14 billion, a PE ratio of 7.75, a PEG ratio of 0.66 and a beta of 1.36. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The firm’s fifty day simple moving average is $63.64 and its 200 day simple moving average is $59.29.

Air Lease (NYSE:AL) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on AL. Cowen lowered 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 research note on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Finally, 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. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.29.

Institutional Investors Weigh In On Air Lease

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Air Lease by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock valued at $318,479,000 after buying an additional 31,274 shares in the last quarter. Wellington Management Group LLP increased its stake in Air Lease by 1.3% in the first quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock valued at $263,476,000 after acquiring an additional 69,629 shares during the period. JPMorgan Chase & Co. raised its position in Air Lease by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock worth $242,778,000 after purchasing an additional 60,216 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after purchasing an additional 265,423 shares during the period. Finally, American Century Companies Inc. lifted its stake in Air Lease by 10.4% during the first quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock worth $172,143,000 after purchasing an additional 336,376 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

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.