Air Lease (NYSE:AL) Director Steven Udvar-Hazy Sells 42,700 Shares

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 42,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.02, for a total transaction of $2,733,654.00. Following the transaction, the director owned 1,300 shares in the company, valued at $83,226. The trade was a 97.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Air Lease Price Performance

AL opened at $63.99 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $7.15 billion, a P/E ratio of 7.41 and a beta of 1.19. The company’s 50 day simple moving average is $63.76 and its 200-day simple moving average is $60.71. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.13. The firm 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 7.84% and a net margin of 35.08%.The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. Sell-side analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors 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 yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s dividend payout ratio (DPR) is presently 10.20%.

Hedge Funds Weigh In On Air Lease

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group raised its stake in 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 buying an additional 355 shares during the period. True Wealth Design LLC increased its holdings in shares of Air Lease by 2,980.0% in the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Air Lease during the third quarter worth about $29,000. First Horizon Corp bought a new position in shares of Air Lease during the 3rd quarter valued at about $31,000. Finally, Parkside Financial Bank & Trust grew its position 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 period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 3rd. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Four research 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, Air Lease has a consensus rating of “Hold” and an average price target of $59.50.

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.