PNC Financial Services Group Inc. Purchases 1,342 Shares of Air Lease Corporation $AL

PNC Financial Services Group Inc. lifted its position in Air Lease Corporation (NYSE:AL) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,948 shares of the transportation company’s stock after acquiring an additional 1,342 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Air Lease were worth $640,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AL. Public Employees Retirement System of Ohio raised its position in Air Lease by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock worth $2,035,000 after purchasing an additional 234 shares during the period. Yousif Capital Management LLC boosted its position in shares of Air Lease by 0.7% during the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock valued at $2,398,000 after buying an additional 273 shares during the period. Ellevest Inc. boosted its position in shares of Air Lease by 4.2% during the second quarter. Ellevest Inc. now owns 7,064 shares of the transportation company’s stock valued at $413,000 after buying an additional 284 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Air Lease by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 35,419 shares of the transportation company’s stock valued at $2,072,000 after buying an additional 319 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in shares of Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after buying an additional 355 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $63.84, for a total value of $446,880.00. Following the completion of the transaction, the director owned 1,528,366 shares of the company’s stock, valued at $97,570,885.44. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew J. Hart sold 19,627 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $63.78, for a total value of $1,251,810.06. Following the sale, the director owned 40,587 shares of the company’s stock, valued at approximately $2,588,638.86. This represents a 32.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,175 shares of company stock worth $6,965,626 over the last quarter. 6.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AL. Zacks Research lowered Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. TD Cowen lowered 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 research note on Wednesday, October 8th. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.50.

Air Lease Price Performance

Shares of AL stock opened at $63.76 on Friday. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 7.74, a P/E/G ratio of 0.66 and a beta of 1.36. The stock has a fifty day simple moving average of $63.66 and a two-hundred day simple moving average of $60.03. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. The firm had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share. On average, analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

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

Air Lease Company Profile

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.