Parallel Advisors LLC Boosts Holdings in Air Lease Corporation $AL

Parallel Advisors LLC increased its holdings in Air Lease Corporation (NYSE:AL) by 16.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,694 shares of the transportation company’s stock after buying an additional 509 shares during the quarter. Parallel Advisors LLC’s holdings in Air Lease were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AL. Alpine Bank Wealth Management purchased a new position in shares of Air Lease in the first quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after buying an additional 355 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock worth $36,000 after buying an additional 348 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Air Lease by 264.1% in the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after buying an additional 647 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Air Lease in the first quarter worth approximately $52,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Insider Buying and Selling

In related news, EVP David Beker sold 5,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the transaction, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,000 shares of company stock valued at $746,380. Insiders own 6.80% of the company’s stock.

Air Lease Trading Up 0.1%

Shares of AL opened at $63.60 on Monday. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The company has a 50 day simple moving average of $59.36 and a two-hundred day simple moving average of $54.28. The firm has a market cap of $7.11 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37.

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

Air Lease Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AL shares. Barclays reissued an “overweight” rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued 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 $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.