Wealth Enhancement Advisory Services LLC Decreases Stake in Air Lease Corporation $AL

Wealth Enhancement Advisory Services LLC lowered its position in Air Lease Corporation (NYSE:AL) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,763 shares of the transportation company’s stock after selling 1,045 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Air Lease were worth $942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Air Lease by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock worth $318,479,000 after purchasing an additional 31,274 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Air Lease by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock valued at $263,476,000 after acquiring an additional 69,629 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Air Lease by 1.2% in the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock valued at $242,778,000 after acquiring an additional 60,216 shares during the period. American Century Companies Inc. increased its holdings in shares of Air Lease by 10.4% in the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock valued at $172,143,000 after acquiring an additional 336,376 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Air Lease by 19.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company’s stock valued at $162,492,000 after acquiring an additional 553,080 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of the business’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 sale, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Beker sold 5,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $746,380 over the last 90 days. Insiders own 6.64% of the company’s stock.

Air Lease Stock Performance

Shares of AL opened at $63.61 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $7.11 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 1.37. The company’s fifty day moving average is $60.36 and its two-hundred day moving average is $55.30. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30.

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

Air Lease Announces Dividend

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 given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease’s payout ratio is presently 10.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AL. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a report 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 target price on the stock. in a report on Wednesday, September 3rd. Finally, Barclays reaffirmed an “overweight” rating and issued a $67.00 target price (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Four research 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, the stock has an average rating of “Hold” and an average target price 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.