Mutual of America Capital Management LLC Sells 1,732 Shares of Air Lease Corporation $AL

Mutual of America Capital Management LLC decreased its holdings in shares of Air Lease Corporation (NYSE:AL) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,352 shares of the transportation company’s stock after selling 1,732 shares during the period. Mutual of America Capital Management LLC’s holdings in Air Lease were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB increased its position in Air Lease by 11.1% in the second quarter. Wilmington Savings Fund Society FSB now owns 18,043 shares of the transportation company’s stock worth $1,055,000 after buying an additional 1,808 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Air Lease by 60.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 28,371 shares of the transportation company’s stock worth $1,659,000 after acquiring an additional 10,737 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Air Lease by 5.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 75,095 shares of the transportation company’s stock worth $4,392,000 after acquiring an additional 3,812 shares during the period. Yousif Capital Management LLC lifted its holdings in Air Lease by 0.7% during the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock valued at $2,398,000 after purchasing an additional 273 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Air Lease by 7.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after buying an additional 265,423 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Air Lease Trading Up 0.0%

Shares of AL opened at $63.60 on Tuesday. The stock has a market capitalization of $7.11 billion, a PE 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 $62.81 and its 200 day moving average is $57.50. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30.

Air Lease (NYSE:AL) last issued its quarterly earnings data 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 revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s payout ratio is currently 10.68%.

Insider Buying and Selling at Air Lease

In other news, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president owned 141,316 shares in the company, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This represents 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 in the last 90 days. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AL has been the subject of a number of recent analyst reports. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Cowen cut Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Barclays restated an “overweight” rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research note 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 price objective on the stock. in a research report on Wednesday, September 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.29.

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.