Steven Udvar-Hazy Sells 3,000 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $63.76, for a total transaction of $191,280.00. Following the completion of the sale, the director directly owned 1,197,558 shares in the company, valued at approximately $76,356,298.08. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Air Lease Price Performance

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

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. The firm had revenue of $725.39 million for 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 company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. Equities analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be issued a dividend of $0.22 per share. 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 (DPR) is currently 10.20%.

Institutional Trading of Air Lease

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new stake in shares of Air Lease during the 1st quarter worth approximately $1,347,000. KLP Kapitalforvaltning AS grew its holdings in Air Lease by 7.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock worth $1,285,000 after acquiring an additional 1,500 shares during the period. Hsbc Holdings PLC acquired a new stake in Air Lease during the 1st quarter worth $987,000. LPL Financial LLC raised its position in shares of Air Lease by 11.3% during the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after acquiring an additional 4,601 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Air Lease by 8.3% in the 1st quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company’s stock valued at $17,057,000 after purchasing an additional 27,065 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research lowered Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Five 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, the company currently has an average rating of “Hold” and an average 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.