Ingalls & Snyder LLC cut its position in shares of Air Lease Corp (NYSE:AL) by 9.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 68,103 shares of the transportation company’s stock after selling 6,701 shares during the quarter. Ingalls & Snyder LLC owned 0.06% of Air Lease worth $3,236,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. NumerixS Investment Technologies Inc acquired a new position in shares of Air Lease during the 2nd quarter valued at $54,000. AE Wealth Management LLC acquired a new position in shares of Air Lease during the 3rd quarter valued at $208,000. Capital Management Associates NY acquired a new position in shares of Air Lease during the 3rd quarter valued at $209,000. Comerica Bank increased its position in shares of Air Lease by 6.0% during the 3rd quarter. Comerica Bank now owns 5,794 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 329 shares during the period. Finally, WBI Investments Inc. acquired a new position in shares of Air Lease during the 3rd quarter valued at $274,000. Institutional investors own 90.83% of the company’s stock.
Separately, ValuEngine cut Air Lease from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 4th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $48.00.
AL opened at $48.94 on Thursday. The firm has a market cap of $5.47 billion, a PE ratio of 10.64, a P/E/G ratio of 0.86 and a beta of 1.85. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.52. The business has a fifty day simple moving average of $47.33 and a 200-day simple moving average of $43.38. Air Lease Corp has a fifty-two week low of $31.98 and a fifty-two week high of $48.99.
Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. The business had revenue of $531.00 million during the quarter, compared to analyst estimates of $525.63 million. Air Lease had a return on equity of 10.81% and a net margin of 29.22%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. On average, equities research analysts anticipate that Air Lease Corp will post 5.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 20th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, December 19th. This is a positive change from Air Lease’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. Air Lease’s dividend payout ratio (DPR) is currently 13.04%.
In other news, Chairman Steven F. Udvar-Hazy sold 220,371 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $44.93, for a total transaction of $9,901,269.03. Following the completion of the sale, the chairman now directly owns 1,268,198 shares of the company’s stock, valued at approximately $56,980,136.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marc H. Baer sold 7,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.77, for a total value of $327,390.00. Following the sale, the executive vice president now directly owns 123,008 shares of the company’s stock, valued at $5,753,084.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 378,950 shares of company stock valued at $17,129,296. Corporate insiders own 8.76% of the company’s stock.
Air Lease Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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