Air Lease (NYSE:AL) Director Steven Udvar-Hazy Sells 42,700 Shares

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 42,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $64.02, for a total value of $2,733,654.00. Following the completion of the sale, the director owned 1,300 shares of the company’s stock, valued at approximately $83,226. This trade represents a 97.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Air Lease Price Performance

Shares of NYSE:AL traded down $0.12 during midday trading on Tuesday, hitting $63.99. The stock had a trading volume of 1,598,469 shares, compared to its average volume of 2,121,652. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $7.15 billion, a P/E ratio of 7.41 and a beta of 1.19. The company’s 50-day moving average price is $63.76 and its 200-day moving average price is $60.71. 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 released its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The firm had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same period in the prior year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is currently 10.20%.

Hedge Funds Weigh In On Air Lease

Several hedge funds and other institutional investors have recently modified their holdings of AL. Dimensional Fund Advisors LP raised its stake in Air Lease by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock valued at $318,479,000 after purchasing an additional 31,274 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Air Lease by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock valued at $263,476,000 after purchasing an additional 69,629 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Air Lease by 1.2% in the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock worth $242,778,000 after purchasing an additional 60,216 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Air Lease by 7.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock valued at $211,797,000 after purchasing an additional 265,423 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Air Lease by 10.4% during the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock valued at $172,143,000 after buying an additional 336,376 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several 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 objective on the stock. in a report on Wednesday, September 3rd. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Air Lease has an average rating of “Hold” and a consensus price target of $59.50.

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.