Credit Industriel ET Commercial Invests $1.27 Million in Air Lease Corporation $AL

Credit Industriel ET Commercial acquired a new stake in Air Lease Corporation (NYSE:AL) in the third quarter, Holdings Channel.com reports. The fund acquired 20,000 shares of the transportation company’s stock, valued at approximately $1,273,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Archer Investment Corp boosted its holdings in Air Lease by 5.1% during the 3rd quarter. Archer Investment Corp now owns 3,415 shares of the transportation company’s stock valued at $217,000 after acquiring an additional 165 shares during the period. Sage Rhino Capital LLC lifted its position in shares of Air Lease by 4.8% during the third quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company’s stock worth $253,000 after purchasing an additional 181 shares in the last quarter. Eastern Bank lifted its position in shares of Air Lease by 33.2% during the third quarter. Eastern Bank now owns 799 shares of the transportation company’s stock worth $51,000 after purchasing an additional 199 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Air Lease by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company’s stock valued at $710,000 after purchasing an additional 205 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Air Lease by 75.0% in the third quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

AL has been the topic of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Zacks Research upgraded Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Barclays reissued an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.17.

Air Lease Trading Up 0.1%

AL opened at $64.74 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.76. The company has a market cap of $7.25 billion, a P/E ratio of 6.95, a PEG ratio of 0.56 and a beta of 1.13. The business’s 50-day simple moving average is $64.32 and its 200-day simple moving average is $62.94.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.46 by $0.74. The company had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. As a group, equities research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.22 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s payout ratio is 9.45%.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.30, for a total value of $64,300.00. Following the completion of the sale, the executive vice president owned 137,206 shares in the company, valued at approximately $8,822,345.80. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the sale, the executive vice president directly owned 50,091 shares of the company’s stock, valued at $3,210,833.10. The trade was a 29.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 692,185 shares of company stock valued at $44,301,155. Insiders own 6.80% of the company’s stock.

Air Lease Profile

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.