Air Lease (NYSE:AL) Director Steven Udvar-Hazy Sells 48,000 Shares

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 48,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $63.96, for a total transaction of $3,070,080.00. Following the completion of the transaction, the director directly owned 14,050 shares of the company’s stock, valued at $898,638. This represents a 77.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Air Lease Price Performance

Shares of AL remained flat at $63.96 during mid-day trading on Thursday. The stock had a trading volume of 2,018,915 shares, compared to its average volume of 2,128,448. The company has a market cap of $7.15 billion, a P/E ratio of 7.41 and a beta of 1.19. The company has a 50-day moving average price of $63.77 and a two-hundred day moving average price of $60.75. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share 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 for the quarter, compared to the consensus estimate of $744.59 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. Air Lease’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease’s dividend payout ratio is 10.20%.

Institutional Investors Weigh In On Air Lease

Several institutional investors and hedge funds have recently modified their holdings of AL. Dimensional Fund Advisors LP grew its holdings in Air Lease by 0.5% during 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 purchasing an additional 31,274 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Air Lease by 1.3% in 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 purchasing an additional 69,629 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Air Lease by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock worth $242,778,000 after purchasing an additional 60,216 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Air Lease by 7.9% during 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 during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of 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. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

AL has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded 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 report on Wednesday, September 3rd. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Finally, Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.50.

About Air Lease

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.