Air Lease (NYSE:AL) EVP Sells $317,850.00 in Stock

Key Points

• Grant Levy, Executive Vice President of Air Lease, sold 5,000 shares at an average price of $63.57, reducing his ownership by 3.42% to 141,316 shares worth approximately $8.98 million.
• Air Lease reported a quarterly earnings per share (EPS) of $1.40, exceeding estimates, with revenues of $731.70 million, reflecting a 9.7% increase from the previous year.
• The company declared a quarterly dividend of $0.22 per share, which will be paid on October 8th, representing a 1.4% yield and a payout ratio of 10.68%.

Air Lease Corporation (NYSE:AL - Get Free Report) EVP Grant A. Levy sold 5,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president directly owned 141,316 shares of the company's stock, valued at $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Air Lease Stock Performance

NYSE AL traded up $0.05 during midday trading on Friday, hitting $63.60. The company had a trading volume of 2,358,735 shares, compared to its average volume of 3,060,336. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37. The firm has a fifty day simple moving average of $59.36 and a two-hundred day simple moving average of $54.17. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $731.70 million for 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%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal 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 paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease's payout ratio is currently 10.68%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AL. Deutsche Bank Aktiengesellschaft downgraded 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 note on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Barclays reiterated an "overweight" rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.29.

Institutional Trading of Air Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AL. Norges Bank acquired a new stake in Air Lease in the second quarter worth about $71,910,000. Allspring Global Investments Holdings LLC increased its position in Air Lease by 19.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after purchasing an additional 553,080 shares during the period. M3F Inc. acquired a new stake in Air Lease in the first quarter worth about $19,776,000. Cubist Systematic Strategies LLC acquired a new stake in Air Lease in the second quarter worth about $22,986,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Air Lease during the 2nd quarter worth about $22,217,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

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.