Prudential Financial Inc. Purchases 3,219 Shares of Air Lease Corporation $AL

Prudential Financial Inc. grew its position in Air Lease Corporation (NYSE:AL) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,551 shares of the transportation company’s stock after purchasing an additional 3,219 shares during the period. Prudential Financial Inc.’s holdings in Air Lease were worth $6,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Archer Investment Corp grew its position in Air Lease by 6.6% in the 2nd quarter. Archer Investment Corp now owns 3,250 shares of the transportation company’s stock worth $190,000 after purchasing an additional 200 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Air Lease by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock valued at $2,035,000 after acquiring an additional 234 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Air Lease by 0.7% in the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock valued at $2,398,000 after acquiring an additional 273 shares in the last quarter. Ellevest Inc. increased its position in shares of Air Lease by 4.2% during the second quarter. Ellevest Inc. now owns 7,064 shares of the transportation company’s stock valued at $413,000 after acquiring an additional 284 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Air Lease by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 35,419 shares of the transportation company’s stock worth $2,072,000 after acquiring an additional 319 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Air Lease news, Director Steven F. Udvar-Hazy sold 5,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $63.85, for a total transaction of $319,250.00. Following the sale, the director owned 1,517,366 shares in the company, valued at $96,883,819.10. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kishore Korde sold 30,160 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total value of $1,927,224.00. Following the completion of the transaction, the executive vice president directly owned 79,263 shares of the company’s stock, valued at $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 174,635 shares of company stock worth $11,145,895 in the last three months. Insiders own 6.64% of the company’s stock.

Air Lease Trading Up 0.1%

Shares of AL opened at $63.93 on Friday. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30. The business has a 50-day moving average of $63.69 and a 200 day moving average of $60.35. The firm has a market cap of $7.15 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36. 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 (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The firm had revenue of $725.39 million during the quarter, compared to analyst estimates of $744.59 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. As a group, research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors 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 yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s payout ratio is currently 10.20%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 3rd. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Zacks Research downgraded shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Cowen lowered shares of Air Lease from a “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. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of “Hold” and an average target price of $59.50.

Air Lease 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.