Air Lease (NYSE:AL) EVP Sells $545,491.00 in Stock

Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 8,510 shares of Air Lease stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $64.10, for a total value of $545,491.00. Following the sale, the executive vice president directly owned 70,753 shares of the company’s stock, valued at approximately $4,535,267.30. This trade represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kishore Korde also recently made the following trade(s):

• On Monday, December 15th, Kishore Korde sold 20,662 shares of Air Lease stock. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20.
• On Tuesday, November 25th, Kishore Korde sold 30,160 shares of Air Lease stock. The stock was sold at an average price of $63.90, for a total value of $1,927,224.00.

Air Lease Price Performance

AL traded down $0.03 during midday trading on Tuesday, hitting $64.22. The stock had a trading volume of 1,144,588 shares, compared to its average volume of 2,194,240. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.40. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The business has a fifty day moving average of $63.80 and a 200 day moving average of $60.93. The company has a market cap of $7.18 billion, a P/E ratio of 7.44 and a beta of 1.19.

Air Lease (NYSE:AL) last released its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. The company had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Air Lease by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,591,387 shares of the transportation company’s stock valued at $419,540,000 after acquiring an additional 41,975 shares in the last quarter. Wellington Management Group LLP raised its position in Air Lease by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock worth $263,476,000 after buying an additional 69,629 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Air Lease by 7.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock valued at $211,797,000 after acquiring an additional 265,423 shares during the period. State Street Corp boosted its holdings in shares of Air Lease by 0.8% during the 2nd quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock valued at $203,084,000 after acquiring an additional 28,227 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Air Lease by 930.1% in the third quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after acquiring an additional 2,061,817 shares during the period. Institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AL shares. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Zacks Research downgraded 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, Deutsche Bank Aktiengesellschaft lowered shares of 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. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $59.50.

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.