127,769 Shares in Air Lease Corporation $AL Bought by Gabelli Funds LLC

Gabelli Funds LLC bought a new stake in Air Lease Corporation (NYSE:AL) during the second quarter, HoldingsChannel.com reports. The firm bought 127,769 shares of the transportation company’s stock, valued at approximately $7,473,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of Air Lease by 31.3% during the 1st quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock valued at $958,000 after purchasing an additional 4,725 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Air Lease by 11.3% in the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after acquiring an additional 4,601 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Air Lease by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,146,621 shares of the transportation company’s stock valued at $55,393,000 after acquiring an additional 5,027 shares in the last quarter. Deutsche Bank AG grew its position in Air Lease by 7.8% during the 1st quarter. Deutsche Bank AG now owns 6,908 shares of the transportation company’s stock worth $334,000 after acquiring an additional 500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Air Lease by 206.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,181 shares of the transportation company’s stock worth $3,487,000 after purchasing an additional 48,600 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Insider Buying and Selling at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 42,700 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $64.02, for a total transaction of $2,733,654.00. Following the transaction, the director owned 1,300 shares in the company, valued at approximately $83,226. This represents a 97.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kishore Korde sold 30,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total value of $1,927,224.00. Following the completion of the sale, the executive vice president owned 79,263 shares of the company’s stock, valued at approximately $5,064,905.70. This represents a 27.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 330,168 shares of company stock valued at $21,099,874 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Air Lease Stock Performance

AL stock opened at $63.99 on Wednesday. The firm has a market cap of $7.15 billion, a PE ratio of 7.41 and a beta of 1.19. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a 50-day moving average price of $63.76 and a 200-day moving average price of $60.71. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.30.

Air Lease (NYSE:AL) last released its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. The business had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, equities research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be paid 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%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. 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. Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Finally, Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.50.

About Air Lease

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.