Matthew Hart Sells 19,627 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) Director Matthew Hart sold 19,627 shares of Air Lease stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $63.78, for a total transaction of $1,251,810.06. Following the sale, the director directly owned 40,587 shares of the company’s stock, valued at $2,588,638.86. The trade was a 32.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Air Lease Stock Down 0.0%

Air Lease stock opened at $63.85 on Friday. The company’s 50-day moving average price is $63.64 and its two-hundred day moving average price is $59.29. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market cap of $7.14 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.66 and a beta of 1.36. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30.

Air Lease (NYSE:AL) last posted its 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. The company had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is presently 10.20%.

Hedge Funds Weigh In On Air Lease

Several hedge funds and other institutional investors have recently made changes to their positions in AL. Brooklyn Investment Group boosted its position in shares of Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after acquiring an additional 355 shares in the last quarter. True Wealth Design LLC lifted its stake 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 worth $29,000 after purchasing an additional 447 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Air Lease in the 3rd quarter valued at $29,000. First Horizon Corp acquired a new stake in shares of Air Lease in the 3rd quarter valued at $31,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Air Lease by 273.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 407 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AL shares. Deutsche Bank Aktiengesellschaft downgraded Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Finally, Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.29.

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.