Air Lease Corporation (NYSE:AL) CEO John L. Plueger sold 300,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $41.34, for a total value of $12,402,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,057,310 shares in the company, valued at $43,709,195.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Air Lease Corporation (NYSE AL) opened at $41.61 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $4,295.82, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.83. Air Lease Corporation has a twelve month low of $34.21 and a twelve month high of $45.15.
Air Lease Corporation (NYSE:AL) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. Air Lease Corporation had a return on equity of 10.87% and a net margin of 25.67%. The business had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. During the same period last year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. equities research analysts predict that Air Lease Corporation will post 3.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. This is a boost from Air Lease Corporation’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 13th. Air Lease Corporation’s payout ratio is 8.60%.
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Several hedge funds have recently modified their holdings of the company. Boston Partners increased its holdings in shares of Air Lease Corporation by 2.0% in the third quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock worth $369,267,000 after purchasing an additional 169,454 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Air Lease Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 7,550,212 shares of the transportation company’s stock worth $282,076,000 after purchasing an additional 95,981 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Air Lease Corporation by 3.3% in the second quarter. Capital Research Global Investors now owns 4,208,000 shares of the transportation company’s stock worth $157,211,000 after purchasing an additional 136,000 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Air Lease Corporation by 14,924.1% in the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock worth $149,254,000 after purchasing an additional 3,826,090 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of Air Lease Corporation by 3.1% in the third quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock worth $100,970,000 after purchasing an additional 70,200 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on AL. Cowen and Company raised their target price on Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank Of Canada raised their target price on Air Lease Corporation from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. BidaskClub cut Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Bank of America Corporation set a $47.00 target price on Air Lease Corporation and gave the stock a “hold” rating in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.78.
Air Lease Corporation Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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