OLD National Bancorp IN Sells 5,985 Shares of Air Lease Co. (NYSE:AL)

OLD National Bancorp IN reduced its holdings in Air Lease Co. (NYSE:AL) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,314 shares of the transportation company’s stock after selling 5,985 shares during the quarter. OLD National Bancorp IN’s holdings in Air Lease were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AL. AQR Capital Management LLC increased its holdings in Air Lease by 451.4% in the third quarter. AQR Capital Management LLC now owns 683,503 shares of the transportation company’s stock worth $26,937,000 after purchasing an additional 559,554 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Air Lease by 47.6% in the third quarter. Envestnet Asset Management Inc. now owns 938,826 shares of the transportation company’s stock valued at $36,999,000 after acquiring an additional 302,576 shares during the period. American Century Companies Inc. grew its stake in Air Lease by 15.7% in the third quarter. American Century Companies Inc. now owns 1,669,291 shares of the transportation company’s stock valued at $65,787,000 after acquiring an additional 226,908 shares during the period. Earnest Partners LLC grew its stake in Air Lease by 13.5% in the third quarter. Earnest Partners LLC now owns 1,825,501 shares of the transportation company’s stock valued at $71,943,000 after acquiring an additional 217,170 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Air Lease in the third quarter valued at approximately $5,982,000. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Air Lease Stock Up 0.8 %

AL stock opened at $51.40 on Thursday. The stock’s fifty day simple moving average is $46.07 and its two-hundred day simple moving average is $41.56. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $51.77. The stock has a market cap of $5.72 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.68 and a beta of 1.65.

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

Air Lease Dividend Announcement

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

Insiders Place Their Bets

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the sale, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the sale, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John L. Plueger sold 28,515 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total value of $1,142,310.90. Following the completion of the sale, the chief executive officer now owns 808,842 shares in the company, valued at $32,402,210.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,646 shares of company stock valued at $3,705,152. Insiders own 6.64% of the company’s stock.

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.