Air Lease Corporation (AL) EVP Sells $440,000.00 in Stock
Air Lease Corporation (NYSE:AL) EVP Alex A. Khatibi sold 11,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.00, for a total transaction of $440,000.00. Following the completion of the transaction, the executive vice president now owns 142,786 shares of the company’s stock, valued at approximately $5,711,440. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Air Lease Corporation (NYSE:AL) opened at 39.97 on Friday. The stock has a 50 day moving average of $40.02 and a 200 day moving average of $38.46. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $43.39. The company has a market capitalization of $4.13 billion, a PE ratio of 11.64 and a beta of 1.77.
Air Lease Corporation (NYSE:AL) last announced its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The firm had revenue of $380.59 million during the quarter, compared to the consensus estimate of $375.14 million. During the same period last year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Air Lease Corporation will post $3.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.75%. The ex-dividend date is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio is currently 8.70%.
AL has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Barclays PLC initiated coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They issued an “overweight” rating and a $48.00 target price for the company. Bank of America Corporation cut shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research report on Wednesday, August 9th. Morgan Stanley upped their target price on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Finally, BidaskClub cut shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Air Lease Corporation currently has an average rating of “Buy” and an average price target of $45.25.
Institutional investors and hedge funds have recently bought and sold shares of the business. Israel Discount Bank of New York acquired a new stake in Air Lease Corporation in the 1st quarter valued at about $100,000. Fiduciary Trust Co. acquired a new stake in Air Lease Corporation in the 2nd quarter valued at about $111,000. QS Investors LLC increased its position in Air Lease Corporation by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 331 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Air Lease Corporation by 0.9% in the 1st quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.
Air Lease Corporation Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
Receive News & Ratings for Air Lease Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.