Air Lease Corporation (NYSE:AL) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Air Lease Corporation by 4.2%, owning 166,425 shares valued at approximately $8.04 million after selling shares in the first quarter.
• Air Lease's stock has received multiple upgrades from analysts, with Wall Street Zen and Citigroup both raising their ratings to buy and increasing price targets to $68.00.
• The company announced a quarterly dividend of $0.22 per share, representing an annualized yield of 1.6% and a current payout ratio of 15.38%.

Natixis Advisors LLC lowered its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,425 shares of the transportation company's stock after selling 7,315 shares during the quarter. Natixis Advisors LLC owned 0.15% of Air Lease worth $8,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AL. Alpine Bank Wealth Management purchased a new stake in Air Lease during the first quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Air Lease during the fourth quarter valued at $28,000. Engine Capital Management LP purchased a new stake in Air Lease during the fourth quarter valued at $36,000. Versant Capital Management Inc grew its holdings in Air Lease by 88.1% during the first 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 during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in Air Lease during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 94.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays reaffirmed an "overweight" rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. 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 note on Tuesday, May 20th. Finally, Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Air Lease currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Air Lease Stock Up 0.6%

NYSE AL traded up $0.35 during midday trading on Friday, hitting $55.62. 277,906 shares of the company traded hands, compared to its average volume of 852,583. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.39. The company has a market cap of $6.22 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41. The company's 50-day simple moving average is $57.38 and its 200-day simple moving average is $51.22. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The firm had revenue of $731.70 million during the quarter, compared to analysts' expectations of $723.35 million. During the same quarter last year, the firm earned $1.23 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be given a $0.22 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.6%. Air Lease's dividend payout ratio is 10.68%.

Insider Activity

In related news, EVP Grant A. Levy sold 10,000 shares of the company's 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 transaction, the executive vice president directly owned 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.64% of the stock is owned by company 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.