New York State Teachers Retirement System Sells 1,691 Shares of Air Lease Corporation $AL

New York State Teachers Retirement System lowered its position in shares of Air Lease Corporation (NYSE:AL) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,343 shares of the transportation company’s stock after selling 1,691 shares during the period. New York State Teachers Retirement System’s holdings in Air Lease were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Air Lease in the 1st quarter valued at $25,000. Brooklyn Investment Group grew its stake in shares of Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Air Lease by 264.1% during the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after acquiring an additional 647 shares during the period. SVB Wealth LLC acquired a new stake in Air Lease in the 1st quarter worth about $52,000. Finally, Hilltop National Bank bought a new stake in Air Lease in the 2nd quarter valued at about $127,000. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays reiterated an “overweight” rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft downgraded 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. Cowen cut Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. 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, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.29.

Insider Buying and Selling at Air Lease

In other news, EVP David Beker sold 5,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the transaction, the executive vice president directly owned 13,970 shares in the company, valued at approximately $887,514.10. This represents a 26.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $63.57, for a total value of $317,850.00. Following the sale, the executive vice president owned 141,316 shares in the company, valued at $8,983,458.12. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $746,380 over the last quarter. Company insiders own 6.80% of the company’s stock.

Air Lease Price Performance

Shares of AL stock opened at $63.64 on Wednesday. The business has a fifty day simple moving average of $62.36 and a 200 day simple moving average of $56.79. The company has a market cap of $7.11 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30.

Air Lease (NYSE:AL) last issued its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, sell-side analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 3rd. Air Lease’s payout ratio is presently 10.68%.

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.