Insider Selling: Air Lease (NYSE:AL) CEO Sells $9,977,218.63 in Stock

Air Lease Corporation (NYSE:AL) CEO John Plueger sold 155,821 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total value of $9,977,218.63. Following the transaction, the chief executive officer directly owned 725,941 shares in the company, valued at $46,482,002.23. The trade was a 17.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Air Lease Stock Up 0.2%

NYSE:AL opened at $64.10 on Friday. 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 $64.30. The company has a 50-day moving average of $63.78 and a 200 day moving average of $60.80. The firm has a market cap of $7.16 billion, a PE ratio of 7.43 and a beta of 1.19.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business had revenue of $725.39 million during the quarter, compared to analyst estimates of $744.59 million. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal 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. The ex-dividend date of this dividend 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 10.20%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Cowen cut Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note 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. Finally, Weiss Ratings reissued 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AL. Dimensional Fund Advisors LP raised its stake in Air Lease by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock valued at $318,479,000 after buying an additional 31,274 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Air Lease by 1.3% during the first quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock valued at $263,476,000 after acquiring an additional 69,629 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 purchasing an additional 60,216 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Air Lease by 7.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after purchasing an additional 265,423 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Air Lease by 10.4% during the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock worth $172,143,000 after purchasing an additional 336,376 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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.