Key Points
- Kishore Korde sold 30,160 shares of Air Lease at an average price of $63.90 on Nov. 25 for about $1.93M, leaving him with 79,263 shares—a 27.56% reduction in his stake.
- Air Lease reported quarterly EPS of $1.29 (vs. $1.16 est.) on $725.4M revenue (below estimates); the stock trades near its 52‑week high ($64.30), with a market cap of about $7.14B and a P/E of 7.75.
- The company declared a quarterly dividend of $0.22 (annualized $0.88, yield ~1.4%, ex-dividend Dec. 4), and analysts hold a consensus "Hold" rating with a $59.50 price target.
Air Lease Corporation (NYSE:AL - Get Free Report) EVP Kishore Korde sold 30,160 shares of the firm's stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total value of $1,927,224.00. Following the completion of the sale, the executive vice president directly owned 79,263 shares in the company, valued at approximately $5,064,905.70. This represents a 27.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Air Lease Price Performance
Air Lease stock opened at $63.86 on Thursday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.30. The stock has a market capitalization of $7.14 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36. The stock has a fifty day moving average of $63.68 and a 200-day moving average of $60.24.
Air Lease (NYSE:AL - Get Free Report) 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. The firm had revenue of $725.39 million during the quarter, compared to the consensus estimate of $744.59 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 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, sell-side analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.
Air Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease's payout ratio is currently 10.20%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Zacks Research lowered shares of Air Lease from a "hold" rating to a "strong sell" rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Air Lease in a research note on Wednesday, October 8th. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $59.50.
Check Out Our Latest Stock Analysis on Air Lease
Institutional Trading of Air Lease
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Air Lease by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company's stock valued at $318,479,000 after purchasing an additional 31,274 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Air Lease by 1.3% during 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Air Lease by 1.2% in the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company's stock valued at $242,778,000 after acquiring an additional 60,216 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company's stock worth $211,797,000 after acquiring an additional 265,423 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Air Lease by 10.4% in the first quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock valued at $172,143,000 after purchasing an additional 336,376 shares in the last quarter. Institutional investors own 94.59% of the company's stock.
Air Lease Company Profile
(
Get Free Report)
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.
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