Capital Research Global Investors Trims Stock Holdings in Air Lease Corporation $AL

Capital Research Global Investors reduced its position in Air Lease Corporation (NYSE:AL) by 20.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,625,000 shares of the transportation company’s stock after selling 425,000 shares during the quarter. Capital Research Global Investors owned about 1.45% of Air Lease worth $103,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AL. True Wealth Design LLC raised its holdings 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 valued at $29,000 after buying an additional 447 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Air Lease during the third quarter worth about $29,000. First Horizon Corp purchased a new position in shares of Air Lease during the third quarter worth about $31,000. Parkside Financial Bank & Trust increased its position in Air Lease by 273.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 407 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Air Lease by 129.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 298 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in 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 reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Finally, Barclays restated an “equal weight” rating and set a $65.00 price target (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 1,000 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.30, for a total transaction of $64,300.00. Following the completion of the sale, the executive vice president directly owned 137,206 shares in the company, valued at approximately $8,822,345.80. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kishore Korde sold 20,662 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the sale, the executive vice president owned 50,091 shares in the company, valued at approximately $3,210,833.10. This represents a 29.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 179,804 shares of company stock worth $11,522,807. 6.64% of the stock is owned by company insiders.

Air Lease Trading Up 0.1%

NYSE:AL opened at $64.73 on Thursday. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.96. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a fifty day moving average price of $64.54 and a two-hundred day moving average price of $63.91. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 0.53 and a beta of 1.11.

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

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Monday, March 2nd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend 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%.

Air Lease 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.