Air Lease Corp (NYSE:AL) EVP Kishore Korde sold 20,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $42.80, for a total value of $856,000.00. Following the completion of the transaction, the executive vice president now directly owns 117,437 shares of the company’s stock, valued at $5,026,303.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kishore Korde also recently made the following trade(s):

  • On Friday, August 30th, Kishore Korde sold 10,106 shares of Air Lease stock. The stock was sold at an average price of $41.51, for a total value of $419,500.06.

Shares of NYSE:AL traded up $0.46 during midday trading on Tuesday, reaching $43.37. 1,039,074 shares of the company were exchanged, compared to its average volume of 878,344. The firm has a market cap of $4.79 billion, a PE ratio of 9.43, a P/E/G ratio of 0.78 and a beta of 1.92. Air Lease Corp has a fifty-two week low of $28.13 and a fifty-two week high of $46.61. The stock has a fifty day simple moving average of $40.33 and a two-hundred day simple moving average of $38.49. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.43.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, August 8th. The transportation company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.17). The company had revenue of $471.40 million during the quarter, compared to analyst estimates of $483.40 million. Air Lease had a return on equity of 11.16% and a net margin of 30.00%. Air Lease’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, analysts forecast that Air Lease Corp will post 5.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Sunday, September 15th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, September 12th. Air Lease’s dividend payout ratio is 11.30%.

Several institutional investors have recently modified their holdings of AL. Treasurer of the State of North Carolina grew its holdings in shares of Air Lease by 7.1% during the second quarter. Treasurer of the State of North Carolina now owns 50,542 shares of the transportation company’s stock worth $2,089,000 after buying an additional 3,330 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Air Lease in the 2nd quarter valued at approximately $2,359,000. United Services Automobile Association lifted its stake in Air Lease by 3.6% in the 2nd quarter. United Services Automobile Association now owns 24,484 shares of the transportation company’s stock valued at $1,012,000 after acquiring an additional 849 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Air Lease in the 2nd quarter valued at approximately $15,560,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Air Lease by 14.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 131,325 shares of the transportation company’s stock valued at $5,429,000 after acquiring an additional 16,820 shares in the last quarter. Institutional investors own 91.67% of the company’s stock.

A number of equities research analysts have recently commented on AL shares. Cowen reaffirmed an “outperform” rating and set a $49.00 price target (down previously from $50.00) on shares of Air Lease in a research report on Friday, August 9th. ValuEngine lowered Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price for the company. in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Air Lease presently has a consensus rating of “Hold” and a consensus price target of $47.80.

About Air Lease

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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