Air Lease Corporation $AL Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lowered its stake in Air Lease Corporation (NYSE:AL) by 44.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,007 shares of the transportation company’s stock after selling 8,036 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Air Lease were worth $637,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in shares of Air Lease by 2,980.0% in the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 447 shares during the period. Mather Group LLC. purchased a new position in Air Lease in the 3rd quarter valued at about $29,000. First Horizon Corp acquired a new stake in Air Lease in the 3rd quarter worth about $31,000. Parkside Financial Bank & Trust boosted its holdings in Air Lease by 273.2% in 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 during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Air Lease by 129.6% during the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 298 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Down 0.0%

Shares of AL opened at $64.32 on Monday. 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 fifty day simple moving average of $64.06 and a two-hundred day simple moving average of $62.05. The company has a market capitalization of $7.19 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15.

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

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, December 4th. Air Lease’s payout ratio is presently 10.20%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays reaffirmed an “equal weight” rating and issued a $65.00 price target (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.17.

Insiders Place Their Bets

In other Air Lease news, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the completion of the sale, the chief executive officer owned 725,941 shares of the company’s stock, valued at $46,482,002.23. This trade represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory B. Willis sold 23,481 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $63.83, for a total value of $1,498,792.23. Following the transaction, the chief financial officer owned 56,408 shares of the company’s stock, valued at approximately $3,600,522.64. This represents a 29.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 760,593 shares of company stock valued at $48,668,588. Insiders own 6.64% of the company’s stock.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.