Douglas Lane & Associates LLC Sells 132,123 Shares of Air Lease Corporation $AL

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Air Lease Corporation by 30.5%, owning now 300,562 shares valued at approximately $17.58 million.
• Air Lease reported a quarterly earnings per share (EPS) of $1.40, surpassing analysts' expectations of $1.33, with revenue increasing by 9.7% year-over-year to $731.7 million.
• The company declared a quarterly dividend of $0.22 per share, set to be paid on October 8th, indicating an annualized payout of $0.88 and a yield of 1.4%.

Douglas Lane & Associates LLC reduced its stake in Air Lease Corporation (NYSE:AL - Free Report) by 30.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,562 shares of the transportation company's stock after selling 132,123 shares during the period. Douglas Lane & Associates LLC owned 0.27% of Air Lease worth $17,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AL. Mercer Global Advisors Inc. ADV purchased a new position in Air Lease during the fourth quarter worth about $202,000. BNP Paribas Financial Markets boosted its position in Air Lease by 46.0% during the fourth quarter. BNP Paribas Financial Markets now owns 5,063 shares of the transportation company's stock valued at $244,000 after purchasing an additional 1,595 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Air Lease by 5.3% in the fourth quarter. Captrust Financial Advisors now owns 11,506 shares of the transportation company's stock worth $555,000 after buying an additional 582 shares during the last quarter. Deutsche Bank AG increased its stake in Air Lease by 13.3% during the fourth quarter. Deutsche Bank AG now owns 6,408 shares of the transportation company's stock valued at $309,000 after acquiring an additional 754 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Air Lease by 32.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,513 shares of the transportation company's stock worth $2,001,000 after acquiring an additional 10,126 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Price Performance

NYSE AL traded down $0.03 on Friday, hitting $63.52. The company had a trading volume of 1,011,696 shares, compared to its average volume of 1,097,591. The company's fifty day moving average price is $59.26 and its 200-day moving average price is $54.04. 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 market capitalization of $7.10 billion, a PE ratio of 7.71, a PEG ratio of 0.66 and a beta of 1.37. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last announced 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. The company had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. Air Lease's revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease's payout ratio is 10.68%.

Wall Street Analyst Weigh In

AL has been the topic of a number of analyst reports. Cowen downgraded Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. 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 report on Wednesday, September 3rd. Finally, Barclays restated an "overweight" rating and issued a $67.00 target price (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of "Hold" and an average price target of $60.29.

Insider Activity at Air Lease

In related news, EVP Grant A. Levy sold 5,000 shares of Air Lease 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 transaction, the executive vice president owned 141,316 shares of the company's stock, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Beker sold 5,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $746,380 over the last three months. 6.64% of the stock is currently owned by corporate insiders.

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.