Gregory Willis Sells 23,481 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) CFO Gregory 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 completion of the sale, the chief financial officer owned 56,408 shares of the company’s stock, valued at approximately $3,600,522.64. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Air Lease Trading Up 0.0%

Shares of AL opened at $63.76 on Friday. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The stock’s 50-day moving average is $63.57 and its two-hundred day moving average is $58.87. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $7.13 billion, a PE ratio of 7.74, a P/E/G ratio of 0.66 and a beta of 1.36.

Air Lease (NYSE:AL) last announced its earnings results on Monday, November 3rd. The transportation company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.16 by $0.05. The business had revenue of $725.39 million for the quarter, compared to the consensus estimate 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 was up 5.1% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

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

Institutional Investors Weigh In On Air Lease

A number of hedge funds have recently added to or reduced their stakes in AL. Teacher Retirement System of Texas acquired a new position in Air Lease during the 1st quarter valued at about $747,000. M&T Bank Corp raised its holdings in Air Lease by 3.6% during the first quarter. M&T Bank Corp now owns 14,793 shares of the transportation company’s stock worth $714,000 after purchasing an additional 508 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in Air Lease by 10.1% in the first quarter. Rehmann Capital Advisory Group now owns 5,537 shares of the transportation company’s stock worth $268,000 after purchasing an additional 509 shares during the period. Xponance Inc. lifted its position in Air Lease by 4.4% in the first quarter. Xponance Inc. now owns 8,643 shares of the transportation company’s stock worth $418,000 after purchasing an additional 365 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Air Lease by 82.0% during the 1st quarter. Victory Capital Management Inc. now owns 98,214 shares of the transportation company’s stock valued at $4,745,000 after purchasing an additional 44,259 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday. 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 report on Wednesday, September 3rd. TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.29.

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.