Ethic Inc. Sells 562 Shares of Air Lease Corporation $AL

by · The Cerbat Gem

Ethic Inc. trimmed its holdings in Air Lease Corporation (NYSE:AL – Free Report) by 1.4% in the first quarter, Holdings Channel reports. The fund owned 39,911 shares of the transportation company’s stock after selling 562 shares during the period. Ethic Inc.’s holdings in Air Lease were worth $1,934,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Illinois Municipal Retirement Fund lifted its holdings in shares of Air Lease by 0.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company’s stock valued at $2,720,000 after purchasing an additional 272 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Air Lease by 3.0% during the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company’s stock worth $461,000 after buying an additional 281 shares during the period. MBM Wealth Consultants LLC lifted its stake in Air Lease by 2.1% in the first quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company’s stock valued at $686,000 after buying an additional 284 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock valued at $36,000 after buying an additional 348 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Air Lease by 4.4% in the first quarter. Xponance Inc. now owns 8,643 shares of the transportation company’s stock valued at $418,000 after buying an additional 365 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Insider Transactions at Air Lease

In other Air Lease news, EVP David Beker sold 2,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $55.44, for a total transaction of $110,880.00. Following the sale, the executive vice president owned 19,770 shares of the company’s stock, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by insiders.

Air Lease Price Performance

Air Lease stock opened at $57.21 on Monday. The stock’s 50 day moving average is $57.35 and its 200 day moving average is $51.72. Air Lease Corporation has a one year low of $38.25 and a one year high of $60.41. The firm has a market cap of $6.39 billion, a P/E ratio of 6.94, a P/E/G ratio of 0.59 and a beta of 1.41. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42.

Air Lease (NYSE:AL – Get Free Report) last released its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. During the same quarter last year, the business earned $1.23 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.5%. Air Lease’s payout ratio is presently 10.68%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AL. Citigroup raised shares of Air Lease from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of Air Lease from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Finally, Barclays reaffirmed an “overweight” rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Check Out Our Latest Research Report on AL

Air Lease Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Lease Corporation (NYSE:AL – Free Report).