Air Lease Corporation (AL) CEO John L. Plueger Sells 300,000 Shares of Stock
Air Lease Corporation (NYSE:AL) CEO John L. Plueger sold 300,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $41.34, for a total value of $12,402,000.00. Following the completion of the sale, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at $43,709,195.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Air Lease Corporation (AL) traded up $0.51 during mid-day trading on Friday, reaching $41.63. The company’s stock had a trading volume of 519,900 shares, compared to its average volume of 754,023. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.06 and a current ratio of 1.06. Air Lease Corporation has a twelve month low of $34.21 and a twelve month high of $45.15. The stock has a market capitalization of $4,300.00, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.23 and a beta of 1.83.
Air Lease Corporation (NYSE:AL) last released its earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Air Lease Corporation had a return on equity of 10.87% and a net margin of 25.67%. The business had revenue of $376.77 million for the quarter, compared to analyst estimates of $374.61 million. During the same quarter last year, the firm posted $1.43 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. equities research analysts forecast that Air Lease Corporation will post 3.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. This is a positive change from Air Lease Corporation’s previous quarterly dividend of $0.08. Air Lease Corporation’s dividend payout ratio (DPR) is currently 8.62%.
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A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America Corporation downgraded Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Wednesday, August 9th. BidaskClub downgraded Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Cowen and Company raised their price target on Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, UBS AG raised their price target on Air Lease Corporation from $30.00 to $31.00 and gave the stock a “sell” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.78.
Several institutional investors have recently made changes to their positions in the company. Boston Partners increased its stake in shares of Air Lease Corporation by 2.0% during the third quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after buying an additional 169,454 shares during the period. Vanguard Group Inc. increased its stake in shares of Air Lease Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 7,550,212 shares of the transportation company’s stock valued at $282,076,000 after buying an additional 95,981 shares during the period. Capital Research Global Investors increased its stake in shares of Air Lease Corporation by 3.3% during the second quarter. Capital Research Global Investors now owns 4,208,000 shares of the transportation company’s stock valued at $157,211,000 after buying an additional 136,000 shares during the period. BlackRock Inc. increased its stake in shares of Air Lease Corporation by 14,924.1% during the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock valued at $149,254,000 after buying an additional 3,826,090 shares during the period. Finally, Bamco Inc. NY increased its stake in shares of Air Lease Corporation by 3.1% during the third quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock valued at $100,970,000 after buying an additional 70,200 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.
About Air Lease Corporation
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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