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 business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the completion of the sale, the executive vice president owned 19,770 shares in the company, valued at $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Air Lease Stock Up 0.5%

NYSE AL traded up $0.25 during midday trading on Friday, hitting $55.52. 539,787 shares of the company traded hands, compared to its average volume of 815,603. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.39. The company has a market cap of $6.20 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.60 and a beta of 1.41. The company's 50-day simple moving average is $57.33 and its 200-day simple moving average is $51.28. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million for the quarter, compared to analysts' expectations 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 for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. As a group, equities research analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease's dividend payout ratio (DPR) is 10.68%.

Analysts Set New Price Targets

AL has been the topic of a number of recent research reports. Barclays restated an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, Air Lease presently has an average rating of "Moderate Buy" and an average price target of $59.50.

Institutional Trading of Air Lease

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new stake in shares of Air Lease during the 1st quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Air Lease during the 4th quarter valued at $28,000. Brooklyn Investment Group lifted its holdings 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 valued at $28,000 after purchasing an additional 355 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Air Lease by 273.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company's stock worth $33,000 after acquiring an additional 407 shares during the last quarter. Finally, Engine Capital Management LP purchased a new position in Air Lease in the 4th quarter worth $36,000. Institutional investors own 94.59% of the company's stock.

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.

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