Air Lease Corporation (NYSE:AL) EVP Sells $110,880.00 in Stock

Key Points

• Air Lease Corporation's EVP David Beker sold 2,000 shares of stock for $110,880, reducing his ownership by 9.19% to 19,770 shares.
• The company reported an earnings per share (EPS) of $1.40, exceeding expectations and marking a 9.7% year-over-year revenue increase of $731.70 million.
• Air Lease declared a quarterly dividend of $0.22 per share, with an annualized yield of 1.6% and a payout ratio of 10.68%.

Air Lease Corporation (NYSE:AL - Get Free Report) EVP David Beker sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total value of $110,880.00. Following the sale, the executive vice president owned 19,770 shares in the company, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Air Lease Stock Performance

Shares of AL traded up $0.21 during mid-day trading on Wednesday, hitting $58.31. The stock had a trading volume of 303,477 shares, compared to its average volume of 851,039. The company has a market cap of $6.52 billion, a PE ratio of 7.07, a PEG ratio of 0.57 and a beta of 1.41. The company's fifty day simple moving average is $57.31 and its two-hundred day simple moving average is $51.44. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last issued its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The business's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. On average, equities analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.5%. Air Lease's dividend payout ratio (DPR) is 10.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AL shares. Barclays restated an "overweight" rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, Air Lease presently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

Institutional Trading of Air Lease

Several hedge funds have recently made changes to their positions in AL. LPL Financial LLC lifted its holdings in shares of Air Lease by 49.3% in the 4th quarter. LPL Financial LLC now owns 40,643 shares of the transportation company's stock worth $1,959,000 after purchasing an additional 13,416 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Air Lease by 1.9% in the 4th quarter. Alliancebernstein L.P. now owns 57,256 shares of the transportation company's stock worth $2,760,000 after purchasing an additional 1,086 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Air Lease in the 4th quarter worth approximately $1,127,000. Wells Fargo & Company MN lifted its holdings in shares of Air Lease by 75.6% in the 4th quarter. Wells Fargo & Company MN now owns 437,545 shares of the transportation company's stock worth $21,094,000 after purchasing an additional 188,366 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Air Lease in the 4th quarter worth approximately $28,000. Institutional investors own 94.59% of the company's stock.

About Air Lease

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.