Private Advisor Group LLC Sells 1,823 Shares of Air Lease Corporation (NYSE:AL)

Private Advisor Group LLC reduced its position in Air Lease Corporation (NYSE:AL) by 20.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,307 shares of the transportation company’s stock after selling 1,823 shares during the period. Private Advisor Group LLC’s holdings in Air Lease were worth $353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Archer Investment Corp acquired a new position in shares of Air Lease during the 1st quarter worth about $147,000. Cooke & Bieler LP boosted its stake in Air Lease by 5.3% during the 1st quarter. Cooke & Bieler LP now owns 1,265,254 shares of the transportation company’s stock worth $61,124,000 after acquiring an additional 63,870 shares during the last quarter. Burns Matteson Capital Management LLC boosted its stake in Air Lease by 5.2% during the 1st quarter. Burns Matteson Capital Management LLC now owns 8,837 shares of the transportation company’s stock worth $427,000 after acquiring an additional 436 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Air Lease by 37.2% during the first quarter. Verdence Capital Advisors LLC now owns 10,773 shares of the transportation company’s stock valued at $520,000 after purchasing an additional 2,921 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Air Lease by 82.0% in the first quarter. Victory Capital Management Inc. now owns 98,214 shares of the transportation company’s stock valued at $4,745,000 after purchasing an additional 44,259 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Down 1.4%

Shares of NYSE AL opened at $55.34 on Friday. The stock has a market capitalization of $6.18 billion, a P/E ratio of 9.67, a PEG ratio of 0.61 and a beta of 1.35. The stock’s fifty day moving average is $57.65 and its 200 day moving average is $50.93. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm had revenue of $738.28 million for the quarter, compared to analysts’ expectations of $709.70 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.6%. Air Lease’s payout ratio is 15.38%.

Wall Street Analyst Weigh In

Several analysts recently commented on AL shares. Wall Street Zen raised Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Citigroup upgraded Air Lease from a “neutral” rating to a “buy” rating and increased their price target for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Finally, Barclays reaffirmed an “overweight” rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and an average target price of $59.50.

Insider Transactions at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the sale, the executive vice president owned 146,316 shares of the company’s stock, valued at $8,318,064.60. This trade represents a 6.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.64% of the company’s stock.

Air Lease 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.