Steven Udvar-Hazy Sells 12,000 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $63.73, for a total transaction of $764,760.00. Following the transaction, the director owned 33,745 shares in the company, valued at approximately $2,150,568.85. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Air Lease Price Performance

Shares of NYSE AL traded down $0.07 during midday trading on Thursday, reaching $63.74. The company’s stock had a trading volume of 7,896,835 shares, compared to its average volume of 1,320,067. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $7.12 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.66 and a beta of 1.36. The business’s 50 day moving average price is $63.65 and its two-hundred day moving average price is $59.87. 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) last issued its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The business had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

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

Institutional Investors Weigh In On Air Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in shares of Air Lease during the first quarter worth about $1,347,000. KLP Kapitalforvaltning AS raised its holdings in Air Lease by 7.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock valued at $1,285,000 after buying an additional 1,500 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Air Lease during the 1st quarter worth approximately $987,000. LPL Financial LLC boosted its position in Air Lease by 11.3% during the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock worth $2,186,000 after buying an additional 4,601 shares during the period. Finally, Royal Bank of Canada grew its holdings in Air Lease by 8.3% during the 1st quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company’s stock worth $17,057,000 after acquiring an additional 27,065 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AL shares. Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Finally, Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Air Lease currently has an average rating of “Hold” and a consensus price target of $60.29.

About Air Lease

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.