Cannell & Spears LLC Has $13.45 Million Position in Air Lease Corporation $AL

Cannell & Spears LLC trimmed its holdings in Air Lease Corporation (NYSE:AL) by 42.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,300 shares of the transportation company’s stock after selling 153,618 shares during the quarter. Cannell & Spears LLC owned about 0.19% of Air Lease worth $13,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Air Lease by 21.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock worth $2,443,000 after acquiring an additional 9,056 shares in the last quarter. Millennium Management LLC increased its stake in Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock valued at $9,855,000 after purchasing an additional 192,508 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Air Lease by 493.5% in the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock valued at $429,000 after purchasing an additional 7,387 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Air Lease by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock valued at $15,784,000 after purchasing an additional 15,629 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Air Lease by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock valued at $14,410,000 after purchasing an additional 41,912 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the sale, the executive vice president owned 50,091 shares in the company, valued at approximately $3,210,833.10. This trade represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven F. Udvar-Hazy sold 48,632 shares of Air Lease stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.18, for a total transaction of $3,121,201.76. Following the completion of the sale, the director directly owned 14,050 shares in the company, valued at approximately $901,729. This represents a 77.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 89,294 shares of company stock worth $5,728,216. Insiders own 6.64% of the company’s stock.

Air Lease Stock Performance

Shares of Air Lease stock opened at $64.53 on Friday. The business’s fifty day simple moving average is $64.56 and its 200 day simple moving average is $63.97. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.96. The firm has a market capitalization of $7.23 billion, a P/E ratio of 6.93, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11.

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

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors 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 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio is presently 9.45%.

Wall Street Analysts Forecast Growth

AL has been the topic of several recent research reports. Zacks Research upgraded Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Finally, Barclays reaffirmed an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Air Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Air Lease Company 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.