Caxton Associates LLP Acquires Shares of 59,470 Air Lease Corporation $AL

Key Points

• Caxton Associates LLP acquired 59,470 shares of Air Lease Corporation valued at approximately $2.87 million, representing about 0.05% of the company's stock.
• Air Lease reported earnings of $1.40 per share for the most recent quarter, surpassing analysts' expectations, with revenue of $731.70 million, up 9.7% year-over-year.
• The company announced a quarterly dividend of $0.22 per share, with a 1.4% yield based on an annualized payout ratio of 10.68%.

Caxton Associates LLP acquired a new stake in Air Lease Corporation (NYSE:AL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 59,470 shares of the transportation company's stock, valued at approximately $2,873,000. Caxton Associates LLP owned about 0.05% of Air Lease at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AL. Alpine Bank Wealth Management bought a new position in Air Lease in the 1st quarter valued at approximately $25,000. Brooklyn Investment Group increased its position in 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 period. Versant Capital Management Inc increased its position in Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after purchasing an additional 348 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in Air Lease during the 4th quarter valued at approximately $52,000. Finally, SVB Wealth LLC acquired a new stake in Air Lease during the 1st quarter valued at approximately $52,000. Institutional investors own 94.59% of the company's stock.

Air Lease Stock Down 0.1%

NYSE AL traded down $0.05 during mid-day trading on Friday, hitting $63.53. The company's stock had a trading volume of 2,525,679 shares, compared to its average volume of 2,334,465. The company's 50 day simple moving average is $58.87 and its 200 day simple moving average is $53.60. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly 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. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. During the same quarter last year, the firm posted $1.23 EPS. Air Lease's revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease's dividend payout ratio (DPR) is presently 10.68%.

Insider Transactions at Air Lease

In related news, EVP David Beker sold 2,000 shares of Air Lease stock in a transaction on Thursday, August 7th. The shares were 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 of the company's stock, valued at approximately $1,096,048.80. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AL shares. Barclays reissued an "overweight" rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft downgraded 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. TD Cowen downgraded shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $60.29.

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.