Steven Udvar-Hazy Sells 41,500 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 41,500 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $63.96, for a total transaction of $2,654,340.00. Following the sale, the director owned 12,500 shares in the company, valued at approximately $799,500. The trade was a 76.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Air Lease Stock Performance

Shares of AL stock traded down $0.12 during trading on Tuesday, reaching $63.99. 1,598,469 shares of the company’s stock were exchanged, compared to its average volume of 2,121,652. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30. The firm’s fifty day moving average price is $63.76 and its 200-day moving average price is $60.71. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $7.15 billion, a PE ratio of 7.41 and a beta of 1.19.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The company had revenue of $725.39 million for 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%.Air Lease’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Wednesday, September 3rd. Finally, Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Four research 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. According to data from MarketBeat.com, Air Lease presently has an average rating of “Hold” and a consensus target price of $59.50.

Institutional Trading of Air Lease

A number of large investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS grew its holdings in Air Lease by 7.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock valued at $1,285,000 after buying an additional 1,500 shares in the last quarter. LPL Financial LLC grew its stake in Air Lease by 11.3% during 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 in the last quarter. Hsbc Holdings PLC purchased a new stake in Air Lease in the 1st quarter worth $987,000. Entropy Technologies LP purchased a new stake in Air Lease in the 1st quarter worth $452,000. Finally, Royal Bank of Canada boosted its holdings in shares of Air Lease by 8.3% during the 1st quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company’s stock valued at $17,057,000 after purchasing an additional 27,065 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

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.