State of Alaska Department of Revenue Sells 9,012 Shares of Air Lease Corporation $AL

State of Alaska Department of Revenue trimmed its holdings in Air Lease Corporation (NYSE:AL) by 14.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,864 shares of the transportation company’s stock after selling 9,012 shares during the quarter. State of Alaska Department of Revenue’s holdings in Air Lease were worth $3,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AL. Allspring Global Investments Holdings LLC raised its stake in 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 valued at $211,797,000 after purchasing an additional 265,423 shares during the last quarter. State Street Corp grew its position in Air Lease by 0.8% in the 2nd quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock worth $203,084,000 after purchasing an additional 28,227 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Air Lease by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 1,235,262 shares of the transportation company’s stock worth $72,250,000 after purchasing an additional 48,413 shares during the period. Norges Bank acquired a new position in shares of Air Lease during the second quarter valued at about $71,910,000. Finally, Gagnon Securities LLC lifted its stake in shares of Air Lease by 0.7% in the second quarter. Gagnon Securities LLC now owns 736,437 shares of the transportation company’s stock valued at $43,074,000 after buying an additional 5,354 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AL. Barclays reissued an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.17.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 1,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.30, for a total value of $64,300.00. Following the transaction, the executive vice president directly owned 137,206 shares in the company, valued at $8,822,345.80. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.12, for a total transaction of $1,218,280.00. Following the sale, the director directly owned 1,391,366 shares in the company, valued at $89,214,387.92. This represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 760,593 shares of company stock worth $48,668,588. Corporate insiders own 6.80% of the company’s stock.

Air Lease Stock Up 0.0%

NYSE AL opened at $64.25 on Tuesday. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.40. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 0.56 and a beta of 1.15. The stock’s 50 day moving average is $64.01 and its two-hundred day moving average is $61.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The business had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.Air Lease’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. Equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

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

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.