Air Lease Co. (NYSE:AL) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN decreased its stake in shares of Air Lease Co. (NYSE:AL) by 41.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,314 shares of the transportation company’s stock after selling 5,985 shares during the period. OLD National Bancorp IN’s holdings in Air Lease were worth $349,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. increased its stake in Air Lease by 0.5% during the 3rd quarter. Invesco Ltd. now owns 2,720,757 shares of the transportation company’s stock valued at $107,225,000 after buying an additional 14,549 shares during the period. Earnest Partners LLC boosted its position in shares of Air Lease by 13.5% during the 3rd quarter. Earnest Partners LLC now owns 1,825,501 shares of the transportation company’s stock valued at $71,943,000 after purchasing an additional 217,170 shares in the last quarter. Copeland Capital Management LLC boosted its position in shares of Air Lease by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 1,706,579 shares of the transportation company’s stock valued at $67,256,000 after purchasing an additional 4,715 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Air Lease by 15.7% during the 3rd quarter. American Century Companies Inc. now owns 1,669,291 shares of the transportation company’s stock valued at $65,787,000 after purchasing an additional 226,908 shares in the last quarter. Finally, Cooke & Bieler LP boosted its position in shares of Air Lease by 10.4% during the 4th quarter. Cooke & Bieler LP now owns 1,420,054 shares of the transportation company’s stock valued at $59,557,000 after purchasing an additional 133,195 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets raised their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

Air Lease Stock Performance

Shares of AL opened at $51.40 on Thursday. Air Lease Co. has a one year low of $33.33 and a one year high of $51.77. The company has a 50-day moving average of $46.07 and a two-hundred day moving average of $41.56. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.68 and a beta of 1.65. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company had revenue of $716.57 million during the quarter, compared to analysts’ expectations of $672.95 million. During the same period last year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities research analysts expect that Air Lease Co. will post 5.64 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s payout ratio is 16.31%.

Insiders Place Their Bets

In related news, EVP Kishore Korde sold 16,593 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.70, for a total transaction of $658,742.10. Following the completion of the sale, the executive vice president now directly owns 112,375 shares in the company, valued at $4,461,287.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the sale, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kishore Korde sold 16,593 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.70, for a total transaction of $658,742.10. Following the transaction, the executive vice president now directly owns 112,375 shares in the company, valued at approximately $4,461,287.50. The disclosure for this sale can be found here. Insiders sold a total of 89,646 shares of company stock worth $3,705,152 over the last ninety days. 6.64% of the stock is currently owned by company insiders.

About Air Lease

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.