Truist Financial Corp Cuts Stock Holdings in Air Lease Co. (NYSE:AL)

Truist Financial Corp cut its position in shares of Air Lease Co. (NYSE:AL) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 463,358 shares of the transportation company’s stock after selling 54,134 shares during the period. Truist Financial Corp owned 0.42% of Air Lease worth $19,433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bfsg LLC acquired a new position in shares of Air Lease during the 4th quarter worth approximately $869,000. Jump Financial LLC acquired a new position in shares of Air Lease during the 3rd quarter worth about $1,256,000. Natixis Advisors L.P. lifted its position in shares of Air Lease by 0.6% in the third quarter. Natixis Advisors L.P. now owns 186,241 shares of the transportation company’s stock valued at $7,340,000 after acquiring an additional 1,049 shares in the last quarter. Ellis Investment Partners LLC lifted its holdings in Air Lease by 1.7% in the 4th quarter. Ellis Investment Partners LLC now owns 72,256 shares of the transportation company’s stock valued at $3,030,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its stake in Air Lease by 11.4% during the 4th quarter. Reinhart Partners LLC. now owns 1,402,282 shares of the transportation company’s stock worth $58,812,000 after purchasing an additional 144,042 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AL. Barclays increased their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. BMO Capital Markets lifted their price objective on Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

Insider Buying and Selling

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the transaction, the executive vice president now owns 72,073 shares in the company, valued at $2,884,361.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO John L. Plueger sold 28,515 shares of Air Lease stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total value of $1,142,310.90. Following the completion of the transaction, the chief executive officer now owns 808,842 shares in the company, valued at $32,402,210.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the sale, the executive vice president now owns 72,073 shares in the company, valued at $2,884,361.46. The disclosure for this sale can be found here. Insiders have sold a total of 89,646 shares of company stock valued at $3,705,152 in the last ninety days. Company insiders own 6.64% of the company’s stock.

Air Lease Price Performance

AL stock opened at $52.00 on Tuesday. Air Lease Co. has a 52-week low of $33.33 and a 52-week high of $52.31. The business has a fifty day moving average of $46.63 and a two-hundred day moving average of $41.88. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.71 and a beta of 1.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.79. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business had revenue of $716.57 million during the quarter, compared to analysts’ expectations of $672.95 million. During the same period in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was up 19.1% on a year-over-year basis. As a group, research analysts anticipate that Air Lease Co. will post 5.64 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s dividend payout ratio (DPR) is currently 16.31%.

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.