Air Lease Corporation (NYSE:AL) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 833,087 shares of the transportation company's stock after selling 11,696 shares during the period. Envestnet Asset Management Inc. owned 0.75% of Air Lease worth $40,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in Air Lease during the 1st quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new position in Air Lease during the 4th quarter worth approximately $28,000. Versant Capital Management Inc increased its position in Air Lease by 88.1% during 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 during the period. Engine Capital Management LP purchased a new stake in Air Lease in the fourth quarter valued at approximately $36,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after acquiring an additional 1,049 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president directly owned 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.64% of the company's stock.

Air Lease Stock Performance

NYSE:AL traded up $0.30 during midday trading on Monday, reaching $59.05. The stock had a trading volume of 469,058 shares, compared to its average volume of 857,623. The stock has a market cap of $6.60 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.63 and a beta of 1.35. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $60.41. The firm has a fifty day simple moving average of $57.05 and a two-hundred day simple moving average of $49.99.

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

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is 15.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AL shares. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays reaffirmed an "overweight" rating and issued a $67.00 target price (up from $56.00) on shares of Air Lease in a report on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.29.

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.