Air Lease Corporation (NYSE:AL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Air Lease Corporation (NYSE:AL - Free Report) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,396 shares of the transportation company's stock after selling 4,933 shares during the quarter. New York State Common Retirement Fund owned approximately 0.36% of Air Lease worth $19,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease in the first quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in Air Lease in the fourth quarter worth about $28,000. Engine Capital Management LP bought a new position in Air Lease in the fourth quarter worth about $36,000. Versant Capital Management Inc raised its stake in Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after buying an additional 348 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after purchasing an additional 1,049 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the completion of the transaction, the executive vice president owned 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.64% of the company's stock.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of recent analyst reports. Barclays restated 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. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.29.

Air Lease Trading Down 1.3%

AL stock traded down $0.77 during mid-day trading on Friday, reaching $57.54. The company had a trading volume of 588,989 shares, compared to its average volume of 781,098. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market capitalization of $6.43 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.62 and a beta of 1.35. The firm has a 50 day moving average of $57.63 and a 200 day moving average of $50.32. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The firm had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. During the same period last year, the firm earned $0.87 earnings per share. The company's quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.53%. Air Lease's dividend payout ratio is currently 15.38%.

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.