Air Lease Corporation $AL Position Reduced by Amundi

Amundi trimmed its stake in shares of Air Lease Corporation (NYSE:AL) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,009 shares of the transportation company’s stock after selling 10,079 shares during the quarter. Amundi’s holdings in Air Lease were worth $1,941,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease in the 1st quarter worth about $25,000. Brooklyn Investment Group grew its position in shares of Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock valued at $36,000 after buying an additional 348 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Air Lease during the 4th quarter valued at about $52,000. Finally, SVB Wealth LLC bought a new stake in shares of Air Lease during the 1st quarter valued at about $52,000. 94.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AL has been the subject of a number of recent research reports. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Citigroup raised shares of Air Lease from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $68.00 in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Wednesday, September 3rd. Finally, Barclays reaffirmed an “overweight” rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.29.

Air Lease Stock Down 0.1%

Air Lease stock opened at $63.53 on Friday. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.66 and a beta of 1.37. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The company’s 50-day moving average price is $58.87 and its two-hundred day moving average price is $53.60. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.30.

Air Lease (NYSE:AL) last released its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The firm had revenue of $731.70 million for the quarter, compared to analysts’ expectations of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. Air Lease’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. On average, analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is presently 10.68%.

Insider Buying and Selling

In other Air Lease news, EVP David Beker sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total transaction of $110,880.00. Following the transaction, the executive vice president owned 19,770 shares of the company’s stock, valued at approximately $1,096,048.80. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.64% of the company’s stock.

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.