Air Lease Co. (NYSE:AL) Shares Sold by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on Feb 24th, 2023

Oppenheimer Asset Management Inc. reduced its holdings in shares of Air Lease Co. (NYSE:AL – Get Rating) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,629 shares of the transportation company’s stock after selling 369 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Air Lease were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Fortis Advisors LLC boosted its stake in shares of Air Lease by 3.3% in the third quarter. Fortis Advisors LLC now owns 10,325 shares of the transportation company’s stock worth $320,000 after buying an additional 325 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Air Lease by 3.3% in the second quarter. Principal Financial Group Inc. now owns 10,761 shares of the transportation company’s stock worth $360,000 after buying an additional 348 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Air Lease by 19.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,324 shares of the transportation company’s stock worth $72,000 after purchasing an additional 371 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Air Lease by 32.7% during the third quarter. Exchange Traded Concepts LLC now owns 1,733 shares of the transportation company’s stock worth $54,000 after purchasing an additional 427 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Air Lease by 7.3% during the first quarter. Great West Life Assurance Co. Can now owns 7,825 shares of the transportation company’s stock worth $368,000 after purchasing an additional 535 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $39.27, for a total value of $392,700.00. Following the transaction, the executive vice president now owns 146,693 shares in the company, valued at $5,760,634.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.57% of the company’s stock.

Air Lease Stock Performance

NYSE AL opened at $43.17 on Friday. The company has a market cap of $4.79 billion, a PE ratio of -37.54, a price-to-earnings-growth ratio of 0.36 and a beta of 1.80. The stock’s 50 day simple moving average is $42.05 and its 200-day simple moving average is $38.09. Air Lease Co. has a 1-year low of $29.75 and a 1-year high of $47.00. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.12 and a quick ratio of 1.12.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Stockholders of record on Thursday, March 16th will be given a $0.20 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.85%. Air Lease’s dividend payout ratio (DPR) is presently -69.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Credit Suisse Group reiterated an “outperform” rating and set a $55.00 price target on shares of Air Lease in a research report on Friday, February 17th. Barclays lowered their price target on Air Lease from $55.00 to $52.00 in a research report on Friday, January 6th.

About Air Lease

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Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.