Diversified Trust Co Takes Position in Air Lease Corporation $AL

Diversified Trust Co bought a new stake in Air Lease Corporation (NYSE:AL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,940 shares of the transportation company’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp raised its position in Air Lease by 3.6% during the first quarter. M&T Bank Corp now owns 14,793 shares of the transportation company’s stock valued at $714,000 after purchasing an additional 508 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Air Lease by 18.7% during the 1st quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company’s stock worth $503,000 after buying an additional 1,640 shares in the last quarter. Verity Asset Management Inc. acquired a new position in shares of Air Lease during the 1st quarter worth $348,000. Neo Ivy Capital Management acquired a new position in shares of Air Lease during the 1st quarter worth $1,347,000. Finally, LPL Financial LLC raised its holdings in shares of Air Lease by 11.3% during the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock worth $2,186,000 after buying an additional 4,601 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on AL. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut 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. Barclays reiterated an “overweight” rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.29.

Insider Buying and Selling

In related news, EVP David Beker sold 5,000 shares of Air Lease 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 sale, the executive vice president owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of Air Lease 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 sale, the executive vice president directly owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $746,380 in the last three months. Insiders own 6.64% of the company’s stock.

Air Lease Stock Performance

Shares of AL stock opened at $63.53 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37. The firm has a 50 day moving average of $59.66 and a 200-day moving average of $54.53. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.30.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million during 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%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. On average, equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a $0.22 dividend. 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%.

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.