Arvin Capital Management LP Lowers Position in Air Lease Corporation $AL

Arvin Capital Management LP reduced its stake in Air Lease Corporation (NYSE:AL) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 347,664 shares of the transportation company’s stock after selling 48,276 shares during the period. Air Lease makes up approximately 4.0% of Arvin Capital Management LP’s portfolio, making the stock its 11th biggest position. Arvin Capital Management LP owned about 0.31% of Air Lease worth $22,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. True Wealth Design LLC boosted its stake in Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after buying an additional 447 shares during the period. Mather Group LLC. acquired a new position in shares of Air Lease in the 3rd quarter worth approximately $29,000. First Horizon Corp acquired a new position in shares of Air Lease in the 3rd quarter worth approximately $31,000. Parkside Financial Bank & Trust boosted its position in shares of Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Air Lease by 129.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after purchasing an additional 298 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Performance

NYSE:AL opened at $64.71 on Wednesday. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.96. The company has a fifty day simple moving average of $64.49 and a two-hundred day simple moving average of $63.69. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.33. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The business had revenue of $679.54 million for the quarter, compared to analysts’ expectations of $782.67 million. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio (DPR) is presently 9.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on AL. Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Finally, Barclays reissued an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.60.

Insider Transactions at Air Lease

In related news, CEO John L. Plueger sold 155,821 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the sale, the chief executive officer directly owned 725,941 shares in the company, valued at approximately $46,482,002.23. This represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven F. Udvar-Hazy sold 64,000 shares of Air Lease stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the completion of the transaction, the director owned 74,000 shares of the company’s stock, valued at $4,737,480. This represents a 46.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 595,958 shares of company stock valued at $38,158,193. 6.80% of the stock is currently owned by corporate insiders.

About Air Lease

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.