Air Lease Corporation $AL Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in Air Lease Corporation (NYSE:AL) by 92.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,072 shares of the transportation company’s stock after selling 1,377,816 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of Air Lease worth $6,731,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AL. Brooklyn Investment Group boosted its stake 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 valued at $28,000 after purchasing an additional 355 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after buying an additional 407 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock valued at $43,000 after buying an additional 647 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Air Lease by 120.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the transportation company’s stock worth $46,000 after acquiring an additional 432 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Air Lease in the first quarter worth $52,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analysts Set New Price Targets

AL has been the topic of several analyst reports. Cowen cut Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. TD Cowen downgraded Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Air Lease presently has a consensus rating of “Hold” and an average target price of $59.50.

Insider Transactions at Air Lease

In other news, EVP Kishore Korde sold 30,160 shares of Air Lease stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the sale, the executive vice president owned 79,263 shares in the company, valued at approximately $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total value of $9,977,218.63. Following the transaction, the chief executive officer owned 725,941 shares in the company, valued at $46,482,002.23. This represents a 17.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 760,593 shares of company stock worth $48,668,588. 6.64% of the stock is owned by company insiders.

Air Lease Stock Performance

Shares of AL opened at $64.13 on Friday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 7.43 and a beta of 1.19. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.40. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a 50 day moving average price of $63.82 and a 200 day moving average price of $60.97.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share 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 the consensus estimate of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. Research analysts predict that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

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

Air Lease 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.