Air Lease (NYSE:AL) Director Sells $767,160.00 in Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 12,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $63.93, for a total value of $767,160.00. Following the completion of the transaction, the director owned 15,550 shares in the company, valued at approximately $994,111.50. This represents a 43.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Air Lease Stock Performance

Shares of AL stock opened at $63.87 on Friday. 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 has a fifty day simple moving average of $63.64 and a two-hundred day simple moving average of $59.50. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The firm has a market capitalization of $7.14 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36.

Air Lease (NYSE:AL) last issued its quarterly earnings data 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. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s dividend payout ratio is 10.20%.

Institutional Investors Weigh In On Air Lease

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Air Lease by 930.1% during the third quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock valued at $145,321,000 after buying an additional 2,061,817 shares during the period. Magnetar Financial LLC purchased a new position in Air Lease in the third quarter valued at about $100,534,000. Norges Bank bought a new position in shares of Air Lease during the 2nd quarter valued at approximately $71,910,000. AQR Arbitrage LLC purchased a new stake in shares of Air Lease during the 3rd quarter worth approximately $64,190,000. Finally, High Ground Investment Management LLP bought a new stake in shares of Air Lease in the 3rd quarter worth approximately $34,957,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AL. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Finally, TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.29.

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.