Insider Selling: Air Lease (NYSE:AL) EVP Sells $1,324,434.20 in Stock

Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 20,662 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the transaction, the executive vice president directly owned 50,091 shares of the company’s stock, valued at $3,210,833.10. This trade represents a 29.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kishore Korde also recently made the following trade(s):

• On Friday, December 12th, Kishore Korde sold 8,510 shares of Air Lease stock. The stock was sold at an average price of $64.10, for a total transaction of $545,491.00.
• On Tuesday, November 25th, Kishore Korde sold 30,160 shares of Air Lease stock. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00.

Air Lease Stock Performance

Shares of AL stock opened at $64.13 on Friday. The stock’s 50-day moving average is $63.82 and its two-hundred day moving average is $60.97. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.40. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 7.43 and a beta of 1.19.

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

Air Lease Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AL. Dimensional Fund Advisors LP boosted its holdings in Air Lease by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,591,387 shares of the transportation company’s stock valued at $419,540,000 after purchasing an additional 41,975 shares in the last quarter. Wellington Management Group LLP lifted 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 buying an additional 69,629 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $211,797,000 after buying an additional 265,423 shares during the period. State Street Corp boosted its stake in shares of Air Lease by 0.8% in the second quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock valued at $203,084,000 after buying an additional 28,227 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Air Lease by 930.1% during the third quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after acquiring an additional 2,061,817 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AL. Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft downgraded 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 note on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Finally, TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.50.

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.