First Eagle Investment Management LLC Reduces Position in Air Lease Corporation $AL

First Eagle Investment Management LLC decreased its holdings in Air Lease Corporation (NYSE:AL) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,377 shares of the transportation company’s stock after selling 22,610 shares during the period. First Eagle Investment Management LLC owned 0.22% of Air Lease worth $14,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in Air Lease during the 1st quarter valued at $747,000. M&T Bank Corp grew its position in shares of Air Lease by 3.6% in the first quarter. M&T Bank Corp now owns 14,793 shares of the transportation company’s stock valued at $714,000 after purchasing an additional 508 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Air Lease by 10.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 5,537 shares of the transportation company’s stock valued at $268,000 after purchasing an additional 509 shares during the period. Xponance Inc. lifted its holdings in Air Lease by 4.4% during the 1st quarter. Xponance Inc. now owns 8,643 shares of the transportation company’s stock worth $418,000 after purchasing an additional 365 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Air Lease by 82.0% during the 1st quarter. Victory Capital Management Inc. now owns 98,214 shares of the transportation company’s stock worth $4,745,000 after purchasing an additional 44,259 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Insider Activity

In related news, EVP David Beker sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was 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 owned 141,316 shares of the company’s stock, valued at $8,983,458.12. The trade was a 3.42% decrease in their position. The SEC filing for this sale provides additional information. 6.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AL shares. Barclays reiterated an “overweight” rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Wednesday, September 3rd. Finally, TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Air Lease presently has an average rating of “Hold” and a consensus target price of $60.29.

Air Lease Price Performance

AL stock opened at $63.79 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30. The stock has a market cap of $7.13 billion, a PE ratio of 7.74, a P/E/G ratio of 0.66 and a beta of 1.36. The firm has a 50 day simple moving average of $63.50 and a two-hundred day simple moving average of $58.60.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.05. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. During the same quarter last year, the company posted $0.82 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s dividend payout ratio is presently 10.20%.

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.