Air Lease Corporation $AL Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its holdings in Air Lease Corporation by 39.5%, selling 207,451 shares and ending the quarter with 317,388 shares worth $15.3 million.
• Air Lease reported earnings of $1.40 per share, exceeding analysts' expectations, with revenue of $731.7 million during the most recent quarter.
• The company will pay a quarterly dividend of $0.22 per share on October 8th, with an annualized yield of 1.5% and a payout ratio of 10.68%.

Boston Partners decreased its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,388 shares of the transportation company's stock after selling 207,451 shares during the period. Boston Partners owned about 0.28% of Air Lease worth $15,329,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AL. Alpine Bank Wealth Management purchased a new stake in Air Lease during the 1st quarter worth about $25,000. Engine Capital Management LP acquired a new stake in Air Lease in the 4th quarter valued at about $36,000. Versant Capital Management Inc raised its position 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 purchasing an additional 348 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Air Lease in the 4th quarter valued at about $52,000. Finally, Archer Investment Corp acquired a new stake in Air Lease in the 1st quarter valued at about $147,000. Institutional investors and hedge funds own 94.59% of the company's stock.

Analyst Ratings Changes

AL has been the topic of a number of analyst reports. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and increased their price target for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and issued a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Insider Buying and Selling

In other Air Lease news, EVP David Beker sold 2,000 shares of Air Lease stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total transaction of $110,880.00. Following the transaction, the executive vice president owned 19,770 shares of the company's stock, valued at $1,096,048.80. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by company insiders.

Air Lease Stock Down 1.1%

Shares of NYSE AL traded down $0.65 during midday trading on Wednesday, hitting $57.45. 230,545 shares of the company's stock were exchanged, compared to its average volume of 842,391. 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 Corporation has a twelve month low of $38.25 and a twelve month high of $60.41. The company has a market cap of $6.42 billion, a PE ratio of 6.97, a P/E/G ratio of 0.60 and a beta of 1.41. The firm's fifty day simple moving average is $57.36 and its 200-day simple moving average is $51.85.

Air Lease (NYSE:AL - Get Free Report) last issued its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. During the same quarter last year, the company earned $1.23 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.5%. Air Lease's payout ratio is 10.68%.

Air Lease Company 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.