Key Points
- Air Lease EVP Kishore Korde sold 20,662 shares on Dec. 15 at $64.10 for $1,324,434.20, leaving him with 50,091 shares and representing a 29.20% reduction in his ownership after additional recent sales on Dec. 12 and Nov. 25.
- Air Lease has a market capitalization of about $7.18 billion, a P/E of 7.44, and reported $1.29 EPS for the most recent quarter (beating estimates) while revenue modestly missed expectations.
- The company declared a quarterly dividend of $0.22 per share (annualized yield ~1.4%) and is largely institutionally owned (~94.6%), with a MarketBeat consensus rating of "Hold" and an average price target of $59.50.
Air Lease Corporation (NYSE:AL - Get Free Report) EVP Grant Levy sold 1,000 shares of the business's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.30, for a total transaction of $64,300.00. Following the completion of the transaction, the executive vice president owned 137,206 shares in the company, valued at $8,822,345.80. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Air Lease Stock Performance
Air Lease stock opened at $64.22 on Wednesday. The firm has a 50 day simple moving average of $63.80 and a 200-day simple moving average of $60.93. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 7.44 and a beta of 1.19. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.40.
Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 7.84% and a net margin of 35.08%.The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.
Air Lease Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be issued 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 dividend yield of 1.4%. Air Lease's dividend payout ratio is currently 10.20%.
Analysts Set New Price Targets
AL has been the subject of a number of recent analyst reports. TD Cowen downgraded Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Cowen lowered shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Zacks Research cut shares of Air Lease from a "hold" rating to a "strong sell" rating in a research report on Wednesday, November 5th. 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 report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Air Lease in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $59.50.
Check Out Our Latest Stock Report on Air Lease
Institutional Trading of Air Lease
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Archer Investment Corp lifted its stake in Air Lease by 5.1% in the 3rd quarter. Archer Investment Corp now owns 3,415 shares of the transportation company's stock valued at $217,000 after buying an additional 165 shares in the last quarter. Sage Rhino Capital LLC increased its position in Air Lease by 4.8% during the third quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company's stock worth $253,000 after buying an additional 181 shares in the last quarter. Eastern Bank raised its holdings in shares of Air Lease by 33.2% in the third quarter. Eastern Bank now owns 799 shares of the transportation company's stock worth $51,000 after acquiring an additional 199 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Air Lease by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 34,994 shares of the transportation company's stock valued at $2,227,000 after acquiring an additional 201 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Air Lease by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company's stock valued at $710,000 after acquiring an additional 205 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other 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.
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