Ameriprise Financial Inc. Sells 892,951 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Ameriprise Financial Inc. has reduced its stake in FTAI Aviation Ltd. by 49.9%, owning approximately 895,258 shares, valued at $99.4 million as of the latest SEC filing.
• Multiple analysts have recently upgraded FTAI Aviation's rating from "hold" to "buy," with price targets set between $160.00 and $230.00.
• FTAI Aviation reported a quarterly EPS of $1.57, exceeding the consensus estimate of $1.33, and posted a revenue growth of 52.4% year-over-year.

Ameriprise Financial Inc. decreased its holdings in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 49.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 895,258 shares of the financial services provider's stock after selling 892,951 shares during the quarter. Ameriprise Financial Inc. owned 0.87% of FTAI Aviation worth $99,406,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank raised its stake in shares of FTAI Aviation by 3.5% in the 1st quarter. Amalgamated Bank now owns 3,518 shares of the financial services provider's stock valued at $391,000 after buying an additional 120 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of FTAI Aviation by 0.5% in the 1st quarter. Scotia Capital Inc. now owns 25,428 shares of the financial services provider's stock worth $2,823,000 after purchasing an additional 122 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of FTAI Aviation by 6.3% in the 1st quarter. AE Wealth Management LLC now owns 2,430 shares of the financial services provider's stock worth $270,000 after purchasing an additional 145 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of FTAI Aviation in the 4th quarter worth about $26,000. Finally, Versant Capital Management Inc grew its holdings in shares of FTAI Aviation by 420.9% in the 1st quarter. Versant Capital Management Inc now owns 224 shares of the financial services provider's stock worth $25,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JMP Securities upped their target price on shares of FTAI Aviation from $180.00 to $205.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Morgan Stanley upped their target price on shares of FTAI Aviation from $138.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Wall Street Zen lowered shares of FTAI Aviation from a "buy" rating to a "hold" rating in a report on Saturday. Zacks Research raised shares of FTAI Aviation from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $182.83.

FTAI Aviation Stock Down 1.0%

NASDAQ:FTAI traded down $1.54 during mid-day trading on Friday, reaching $153.85. 1,346,578 shares of the company were exchanged, compared to its average volume of 1,073,821. FTAI Aviation Ltd. has a 12 month low of $75.06 and a 12 month high of $181.64. The company has a fifty day moving average of $128.52 and a 200 day moving average of $117.80. The stock has a market cap of $15.78 billion, a PE ratio of 38.08 and a beta of 1.65.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.24. FTAI Aviation had a net margin of 21.31% and a return on equity of 465.13%. The firm had revenue of $676.24 million for the quarter, compared to analyst estimates of $754.75 million. During the same quarter in the prior year, the firm earned ($2.26) EPS. The company's revenue was up 52.4% on a year-over-year basis. On average, equities research analysts anticipate that FTAI Aviation Ltd. will post 2.2 EPS for the current fiscal year.

FTAI Aviation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 12th. FTAI Aviation's dividend payout ratio (DPR) is 29.70%.

FTAI Aviation Profile

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.