Creative Planning Acquires 1,240 Shares of Air Lease Corporation $AL

Creative Planning grew its holdings in shares of Air Lease Corporation (NYSE:AL) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,210 shares of the transportation company’s stock after acquiring an additional 1,240 shares during the period. Creative Planning’s holdings in Air Lease were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS increased its position in Air Lease by 7.4% in the second quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock worth $1,285,000 after buying an additional 1,500 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Air Lease during the 1st quarter valued at approximately $987,000. LPL Financial LLC raised its stake in 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 acquiring an additional 4,601 shares during the period. Royal Bank of Canada raised its stake in Air Lease by 8.3% during the 1st quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company’s stock worth $17,057,000 after acquiring an additional 27,065 shares during the period. Finally, Entropy Technologies LP purchased a new position in Air Lease during the first quarter valued at approximately $452,000. 94.59% of the stock is owned by institutional investors.

Air Lease Trading Down 0.1%

Shares of AL stock opened at $63.89 on Tuesday. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock’s 50-day moving average price is $63.70 and its 200-day moving average price is $60.42. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The company had revenue of $725.39 million during the quarter, compared to analyst estimates of $744.59 million. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s payout ratio is currently 10.20%.

Insider Buying and Selling at Air Lease

In related news, EVP Kishore Korde sold 30,160 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the sale, the executive vice president owned 79,263 shares of the company’s stock, valued at $5,064,905.70. This represents a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven F. Udvar-Hazy sold 5,000 shares of Air Lease stock in a transaction on Monday, November 24th. The stock was sold at an average price of $63.85, for a total transaction of $319,250.00. Following the completion of the transaction, the director directly owned 1,517,366 shares of the company’s stock, valued at $96,883,819.10. The trade was a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 174,635 shares of company stock worth $11,145,895 in the last 90 days. 6.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AL shares. 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 note on Wednesday, September 3rd. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Air Lease presently has an average rating of “Hold” and an average price target of $59.50.

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.