Robert A. Milton Sells 30,000 Shares of Air Lease Corp. (AL) Stock
Air Lease Corp. (NYSE:AL) Director Robert A. Milton sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $31.73, for a total transaction of $951,900.00. Following the transaction, the director now owns 30,889 shares in the company, valued at $980,107.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Air Lease Corp. (NYSE:AL) opened at 33.18 on Friday. The firm has a 50 day moving average of $29.57 and a 200-day moving average of $28.96. Air Lease Corp. has a 12-month low of $22.47 and a 12-month high of $34.64. The stock has a market cap of $3.41 billion, a PE ratio of 10.07 and a beta of 1.54.
Air Lease Corp. (NYSE:AL) last announced its earnings results on Thursday, November 3rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Air Lease Corp. had a net margin of 26.09% and a return on equity of 14.83%. The firm had revenue of $355.10 million for the quarter, compared to the consensus estimate of $356.47 million. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Air Lease Corp. will post $3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 9th. Investors of record on Monday, December 12th will be paid a dividend of $0.075 per share. This is an increase from Air Lease Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, December 8th. Air Lease Corp.’s dividend payout ratio is presently 6.08%.
A number of large investors have recently made changes to their positions in AL. BTR Capital Management Inc. increased its stake in shares of Air Lease Corp. by 0.4% in the second quarter. BTR Capital Management Inc. now owns 253,500 shares of the company’s stock valued at $6,789,000 after buying an additional 1,110 shares during the last quarter. Quotient Investors LLC acquired a new stake in shares of Air Lease Corp. during the second quarter valued at $495,000. Quantum Capital Management increased its stake in shares of Air Lease Corp. by 4.6% in the first quarter. Quantum Capital Management now owns 765,921 shares of the company’s stock valued at $24,601,000 after buying an additional 33,437 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Air Lease Corp. by 6.8% in the first quarter. Royal Bank of Canada now owns 1,214,028 shares of the company’s stock valued at $38,994,000 after buying an additional 77,352 shares during the last quarter. Finally, Babson Capital Management LLC increased its stake in shares of Air Lease Corp. by 147.0% in the first quarter. Babson Capital Management LLC now owns 53,600 shares of the company’s stock valued at $1,722,000 after buying an additional 31,900 shares during the last quarter. 91.87% of the stock is currently owned by hedge funds and other institutional investors.
AL has been the topic of a number of recent research reports. Stephens initiated coverage on shares of Air Lease Corp. in a research note on Tuesday, November 1st. They set an “overweight” rating and a $48.00 price objective on the stock. FBR & Co reiterated a “buy” rating and set a $35.00 price objective on shares of Air Lease Corp. in a research note on Monday, September 19th. Finally, Zacks Investment Research downgraded shares of Air Lease Corp. from a “hold” rating to a “sell” rating in a research note on Monday, October 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Air Lease Corp. has an average rating of “Buy” and an average target price of $44.94.
Air Lease Corp. Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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