Steven Udvar-Hazy Sells 42,700 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 42,700 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $64.02, for a total transaction of $2,733,654.00. Following the transaction, the director owned 1,300 shares of the company’s stock, valued at $83,226. This represents a 97.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Air Lease Stock Down 0.0%

Shares of NYSE AL opened at $63.96 on Thursday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 7.41 and a beta of 1.19. The company’s 50-day simple moving average is $63.76 and its 200-day simple moving average is $60.73. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.30.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm had revenue of $725.39 million during the quarter, compared to the consensus estimate of $744.59 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

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

Hedge Funds Weigh In On Air Lease

Institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of Air Lease by 31.3% in the 1st quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock valued at $958,000 after buying an additional 4,725 shares during the period. LPL Financial LLC lifted its holdings in Air Lease by 11.3% in the first quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after acquiring an additional 4,601 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Air Lease by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,146,621 shares of the transportation company’s stock worth $55,393,000 after acquiring an additional 5,027 shares during the period. Deutsche Bank AG increased its stake in Air Lease by 7.8% during the first quarter. Deutsche Bank AG now owns 6,908 shares of the transportation company’s stock worth $334,000 after acquiring an additional 500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Air Lease by 206.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,181 shares of the transportation company’s stock worth $3,487,000 after acquiring an additional 48,600 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. TD Cowen lowered shares of Air Lease from a “strong-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 for the company. in a research report on Wednesday, September 3rd. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Zacks Research downgraded shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.