Key Points
- CEO John Plueger sold 155,821 shares on December 9 at an average price of $64.03, totaling $9,977,218.63, reducing his stake by 17.67% to 725,941 shares (valued at about $46.48 million).
- Air Lease declared a quarterly dividend of $0.22 per share (annualized $0.88) payable January 8 with an ex-dividend date of December 4, implying a yield of about 1.4% and a payout ratio of 10.2%.
- Recent results showed $1.29 EPS (beating estimates by $0.13) while revenue of $725.39 million missed expectations, and analysts maintain a consensus "Hold" rating with a $59.50 target.
Air Lease Corporation (NYSE:AL - Get Free Report) CEO John Plueger sold 155,821 shares of the firm's stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the transaction, the chief executive officer owned 725,941 shares of the company's stock, valued at approximately $46,482,002.23. The trade was a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Air Lease Stock Down 0.0%
Air Lease stock opened at $63.96 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $7.15 billion, a PE ratio of 7.41 and a beta of 1.19. The firm's fifty day moving average is $63.76 and its 200 day moving average is $60.73. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30.
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, beating analysts' consensus estimates of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The business had revenue of $725.39 million during the quarter, compared to analyst estimates of $744.59 million. During the same period in the previous year, the company posted $0.82 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict 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. Shareholders of record on Thursday, December 4th will be paid 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 is Thursday, December 4th. Air Lease's payout ratio is 10.20%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a research note on Wednesday, September 3rd. Zacks Research cut Air Lease from a "hold" rating to a "strong sell" rating in a research report on Wednesday, November 5th. TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Air Lease in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $59.50.
Get Our Latest Research Report on Air Lease
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS boosted its holdings in Air Lease by 7.4% in 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 during the period. LPL Financial LLC lifted 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 last quarter. Hsbc Holdings PLC bought a new position in shares of Air Lease during the first quarter valued at about $987,000. Entropy Technologies LP bought a new position in shares of Air Lease in the first quarter worth approximately $452,000. Finally, Royal Bank of Canada increased its position in shares of Air Lease by 8.3% in the first quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company's stock valued at $17,057,000 after acquiring an additional 27,065 shares during the period. 94.59% of the stock is owned by institutional investors.
About Air Lease
(
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.
Further Reading
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