LRI Investments LLC Decreases Stake in Air Lease Corporation $AL

LRI Investments LLC cut its holdings in Air Lease Corporation (NYSE:AL) by 31.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the transportation company’s stock after selling 1,008 shares during the period. LRI Investments LLC’s holdings in Air Lease were worth $129,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Air Lease by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock worth $2,035,000 after acquiring an additional 234 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Air Lease by 0.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company’s stock worth $2,720,000 after acquiring an additional 272 shares during the period. MBM Wealth Consultants LLC lifted its holdings in shares of Air Lease by 2.1% during the 1st quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company’s stock worth $686,000 after acquiring an additional 284 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Air Lease by 0.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 35,419 shares of the transportation company’s stock worth $2,072,000 after acquiring an additional 319 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Air Lease by 152.4% in the first 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 period. 94.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AL. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.29.

Insider Activity

In other news, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president owned 141,316 shares of the company’s stock, valued at $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Beker sold 5,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $887,514.10. The trade was a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $746,380 in the last three months. Insiders own 6.80% of the company’s stock.

Air Lease Stock Down 0.1%

Shares of AL stock opened at $63.52 on Monday. 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 stock has a 50 day moving average of $61.23 and a 200-day moving average of $56.05. The firm has a market cap of $7.10 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30.

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

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd were issued a $0.22 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is currently 10.68%.

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.