Air Lease (NYSE:AL) Director Sells $559,772.95 in Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 8,767 shares of Air Lease stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $63.85, for a total value of $559,772.95. Following the completion of the transaction, the director owned 101,333 shares in the company, valued at approximately $6,470,112.05. The trade was a 7.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Air Lease Price Performance

Shares of AL stock traded down $0.07 on Thursday, hitting $63.74. 7,896,835 shares of the company’s stock were exchanged, compared to its average volume of 1,320,067. The company has a 50 day moving average of $63.65 and a 200 day moving average of $59.87. The stock has a market cap of $7.12 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The firm had revenue of $725.39 million during the quarter, compared to the consensus estimate of $744.59 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors 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 yield of 1.4%. Air Lease’s dividend payout ratio is presently 10.20%.

Institutional Investors Weigh In On Air Lease

Institutional investors have recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in Air Lease during the first quarter valued at $1,347,000. KLP Kapitalforvaltning AS boosted its position in shares of Air Lease by 7.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock valued at $1,285,000 after purchasing an additional 1,500 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Air Lease during the 1st quarter valued at about $987,000. LPL Financial LLC grew its stake in Air Lease by 11.3% during the first quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock worth $2,186,000 after purchasing an additional 4,601 shares during the period. Finally, Royal Bank of Canada increased its holdings in Air Lease by 8.3% in the first quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company’s stock worth $17,057,000 after purchasing an additional 27,065 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AL shares. 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 restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Wednesday, September 3rd. Zacks Research lowered Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Finally, Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Air Lease presently 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.