Air Lease Corporation $AL Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in Air Lease Corporation (NYSE:AL - Free Report) by 7.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 61,876 shares of the transportation company's stock after buying an additional 4,483 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Air Lease worth $3,618,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Air Lease in the 1st quarter valued at $25,000. Brooklyn Investment Group increased its stake in Air Lease by 152.4% in the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after buying an additional 355 shares during the period. Versant Capital Management Inc increased its stake in Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after buying an additional 348 shares during the period. Geneos Wealth Management Inc. increased its stake in Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after buying an additional 647 shares during the period. Finally, SVB Wealth LLC acquired a new position in Air Lease in the 1st quarter valued at $52,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a research note on Wednesday, September 3rd. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Barclays reaffirmed an "overweight" rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $60.29.

Air Lease Price Performance

Air Lease stock opened at $63.61 on Wednesday. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.30. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The firm's 50-day simple moving average is $60.14 and its 200 day simple moving average is $55.13. The firm has a market capitalization of $7.11 billion, a PE ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $723.35 million. During the same period in the previous year, the firm earned $1.23 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

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

Insider Transactions at Air Lease

In other Air Lease news, EVP David Beker sold 5,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares in the company, valued at approximately $887,514.10. This represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Grant A. Levy sold 5,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the transaction, the executive vice president owned 141,316 shares in the company, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock worth $746,380. 6.80% of the stock is 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.

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