Air Lease (NYSE:AL) EVP Kishore Korde Sells 8,510 Shares of Stock

Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 8,510 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $64.10, for a total transaction of $545,491.00. Following the transaction, the executive vice president owned 70,753 shares in the company, valued at approximately $4,535,267.30. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kishore Korde also recently made the following trade(s):

• On Monday, December 15th, Kishore Korde sold 20,662 shares of Air Lease stock. The shares were sold at an average price of $64.10, for a total transaction of $1,324,434.20.
• On Tuesday, November 25th, Kishore Korde sold 30,160 shares of Air Lease stock. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00.

Air Lease Price Performance

NYSE AL opened at $64.22 on Wednesday. The company has a market cap of $7.18 billion, a PE ratio of 7.44 and a beta of 1.19. The firm’s 50 day moving average price is $63.80 and its 200-day moving average price is $60.93. 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 52-week low of $38.25 and a 52-week high of $64.40.

Air Lease (NYSE:AL) last posted 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. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The company had revenue of $725.39 million during the quarter, compared to analyst estimates of $744.59 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. Air Lease’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AL shares. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Zacks Research downgraded Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Wednesday, September 3rd. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Four research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AL. Brooklyn Investment Group boosted its position in Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. True Wealth Design LLC lifted its position in Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 447 shares during the period. Mather Group LLC. purchased a new stake in Air Lease in the third quarter valued at $29,000. First Horizon Corp purchased a new stake in Air Lease in the third quarter valued at $31,000. Finally, Parkside Financial Bank & Trust grew its position in Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

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.