Air Lease Corporation (AL) EVP Jie Chen Sells 4,000 Shares
Air Lease Corporation (NYSE:AL) EVP Jie Chen sold 4,000 shares of Air Lease Corporation stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $43.00, for a total transaction of $172,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Jie Chen also recently made the following trade(s):
- On Tuesday, August 8th, Jie Chen sold 10,000 shares of Air Lease Corporation stock. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00.
Shares of Air Lease Corporation (NYSE AL) traded up 1.50% during midday trading on Tuesday, hitting $43.94. 1,195,142 shares of the stock were exchanged. The firm has a 50 day moving average of $40.31 and a 200 day moving average of $38.66. Air Lease Corporation has a 12-month low of $27.97 and a 12-month high of $44.56. The firm has a market cap of $4.54 billion, a P/E ratio of 12.80 and a beta of 1.79.
Air Lease Corporation (NYSE:AL) last posted its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $380.59 million during the quarter, compared to analyst estimates of $375.14 million. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. Equities analysts forecast that Air Lease Corporation will post $3.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 13th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.
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Several brokerages have commented on AL. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Barclays PLC assumed coverage on Air Lease Corporation in a research report on Monday, July 10th. They set an “overweight” rating and a $48.00 price objective on the stock. Bank of America Corporation lowered Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Wednesday, August 9th. Morgan Stanley increased their price objective on Air Lease Corporation from $40.00 to $42.00 in a research note on Tuesday, July 4th. Finally, BidaskClub cut Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Air Lease Corporation has a consensus rating of “Buy” and a consensus target price of $49.11.
A number of large investors have recently modified their holdings of AL. QS Investors LLC raised its stake in shares of Air Lease Corporation by 0.6% during the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 21 shares during the period. Alps Advisors Inc. lifted its position in shares of Air Lease Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock worth $460,000 after purchasing an additional 32 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Air Lease Corporation by 0.9% during the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after purchasing an additional 35 shares in the last quarter. Suntrust Banks Inc. lifted its position in shares of Air Lease Corporation by 0.9% during the second quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock worth $479,000 after purchasing an additional 119 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Air Lease Corporation by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock valued at $294,000 after purchasing an additional 134 shares during the period. 92.11% of the stock is owned by institutional investors.
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.
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