Strs Ohio Has $158,000 Holdings in Air Lease Corporation $AL

Strs Ohio lessened its position in Air Lease Corporation (NYSE:AL) by 94.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,490 shares of the transportation company’s stock after selling 40,479 shares during the quarter. Strs Ohio’s holdings in Air Lease were worth $158,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Air Lease by 7.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after purchasing an additional 265,423 shares during the period. State Street Corp increased its position in Air Lease by 0.8% in the 2nd quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock worth $203,084,000 after buying an additional 28,227 shares during the period. Bank of America Corp DE increased its position in Air Lease by 4.1% in the 2nd quarter. Bank of America Corp DE now owns 1,235,262 shares of the transportation company’s stock worth $72,250,000 after buying an additional 48,413 shares during the period. Norges Bank acquired a new position in shares of Air Lease during the second quarter worth approximately $71,910,000. Finally, Gagnon Securities LLC boosted its position in shares of Air Lease by 0.7% in the second quarter. Gagnon Securities LLC now owns 736,437 shares of the transportation company’s stock valued at $43,074,000 after acquiring an additional 5,354 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Steven F. Udvar-Hazy sold 64,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $64.02, for a total value of $4,097,280.00. Following the sale, the director owned 74,000 shares in the company, valued at approximately $4,737,480. The trade was a 46.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory B. Willis sold 23,481 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.83, for a total transaction of $1,498,792.23. Following the completion of the sale, the chief financial officer directly owned 56,408 shares in the company, valued at approximately $3,600,522.64. The trade was a 29.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 760,593 shares of company stock worth $48,668,588 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Air Lease Price Performance

Shares of Air Lease stock opened at $64.65 on Wednesday. The firm has a market cap of $7.22 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13. The firm’s 50-day simple moving average is $64.21 and its 200-day simple moving average is $62.54. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.70. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same quarter last year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AL. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Barclays restated an “equal weight” rating and issued a $65.00 price target (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Air Lease has a consensus rating of “Hold” and a consensus target price of $59.17.

Air Lease Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.