Richard P Slaughter Associates Inc Sells 12,178 Shares of Air Lease Corporation $AL

Key Points

• Richard P Slaughter Associates Inc significantly reduced its holdings in Air Lease Corporation by 74.9%, now owning only 4,091 shares valued at approximately $239,000.
• Air Lease reported quarterly earnings of $1.40 per share, exceeding analyst expectations, with quarterly revenue of $731.70 million.
• The company announced a quarterly dividend of $0.22 per share, which will be paid on October 8th, representing an annualized yield of 1.4%.

Richard P Slaughter Associates Inc reduced its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 74.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,091 shares of the transportation company's stock after selling 12,178 shares during the quarter. Richard P Slaughter Associates Inc's holdings in Air Lease were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AL. Alpine Bank Wealth Management bought a new stake in shares of Air Lease during the first quarter valued at approximately $25,000. Brooklyn Investment Group increased its holdings in shares of Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after acquiring an additional 348 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Air Lease by 264.1% during the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after acquiring an additional 647 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Air Lease during the fourth quarter valued at approximately $52,000. 94.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cowen downgraded Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. TD Cowen downgraded Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Barclays reiterated an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.29.

Air Lease Stock Performance

Shares of NYSE AL traded down $0.03 during trading on Friday, reaching $63.53. 1,229,409 shares of the stock traded hands, compared to its average volume of 1,099,549. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50-day moving average of $59.26 and a 200-day moving average of $54.04. The stock has a market capitalization of $7.10 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. Analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease's dividend payout ratio is 10.68%.

Insider Transactions at Air Lease

In related news, EVP David Beker sold 5,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president owned 13,970 shares of the company's stock, valued at approximately $887,514.10. This represents a 26.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the transaction, the executive vice president owned 141,316 shares in the company, valued at $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $746,380 in the last three months. 6.64% of the stock is currently owned by insiders.

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.