Air Lease Corporation $AL Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Air Lease Corporation by 18.1%, owning a total of 47,149 shares valued at approximately $2.77 million.
• During the latest quarter, Air Lease reported $1.40 earnings per share, surpassing expectations and demonstrating a 9.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.22 per share, with a current dividend yield of 1.4% and a payout ratio of 10.68%.

Ethic Inc. increased its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 18.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,149 shares of the transportation company's stock after acquiring an additional 7,238 shares during the period. Ethic Inc.'s holdings in Air Lease were worth $2,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Air Lease during the first quarter worth about $25,000. Brooklyn Investment Group grew its holdings in Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after acquiring an additional 355 shares during the period. Geneos Wealth Management Inc. grew its holdings in Air Lease by 264.1% during the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock worth $43,000 after acquiring an additional 647 shares during the period. SVB Wealth LLC acquired a new stake in Air Lease during the first quarter worth about $52,000. Finally, Hilltop National Bank acquired a new stake in Air Lease during the second quarter worth about $127,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Performance

NYSE AL opened at $63.56 on Friday. The company has a market cap of $7.10 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The stock's 50 day simple moving average is $62.70 and its 200-day simple moving average is $57.15. Air Lease Corporation has a 1-year low of $38.25 and a 1-year 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.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share 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 the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. As a group, equities research analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a report on Wednesday, September 3rd. Barclays reissued an "overweight" rating and issued a $67.00 price objective (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Air Lease in a report on Friday. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.29.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP David Beker sold 5,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the sale, the executive vice president directly owned 13,970 shares in the company, valued at $887,514.10. This represents a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president owned 141,316 shares of the company's stock, valued at approximately $8,983,458.12. The trade was 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 valued at $746,380. 6.64% of the stock is owned by company 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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