Credit Industriel ET Commercial Takes $1.27 Million Position in Air Lease Corporation $AL

Credit Industriel ET Commercial bought a new position in shares of Air Lease Corporation (NYSE:AL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the transportation company’s stock, valued at approximately $1,273,000.

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Air Lease during the 3rd quarter worth approximately $29,000. True Wealth Design LLC boosted its stake in shares of Air Lease by 2,980.0% in the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Air Lease during the third quarter worth approximately $31,000. Nisa Investment Advisors LLC increased its position in shares of Air Lease by 129.6% during the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after purchasing an additional 298 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Air Lease by 75.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of research reports. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Finally, Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.17.

Air Lease Trading Up 0.1%

Shares of AL opened at $64.74 on Monday. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.76. The firm has a market capitalization of $7.25 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.56 and a beta of 1.13. The firm has a 50-day moving average price of $64.32 and a 200 day moving average price of $62.94. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.74. The company had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. Air Lease’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. Sell-side analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be given a $0.22 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s payout ratio is currently 9.45%.

Insider Activity

In related news, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the completion of the sale, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. This trade represents a 17.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 30,160 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 79,263 shares in the company, valued at $5,064,905.70. The trade was a 27.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 692,185 shares of company stock valued at $44,301,155 in the last quarter. Insiders own 6.80% of the company’s stock.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.