Bank of Nova Scotia Makes New $266,000 Investment in FTAI Aviation Ltd. (NASDAQ:FTAI)

Key Points

• Bank of Nova Scotia acquired a new stake in FTAI Aviation Ltd. worth approximately $266,000 by purchasing 2,397 shares.
• The company reported a Q2 EPS of $1.57, surpassing the consensus estimate of $1.33, and a revenue of $676.24 million, though below the forecast of $754.75 million.
• FTAI Aviation announced a quarterly dividend of $0.30 per share, with a dividend yield of 0.9% and a payout ratio of 29.70%.

Bank of Nova Scotia bought a new position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,397 shares of the financial services provider's stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its position in shares of FTAI Aviation by 27.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 147,753 shares of the financial services provider's stock valued at $16,405,000 after purchasing an additional 31,694 shares during the last quarter. WCM Investment Management LLC raised its position in shares of FTAI Aviation by 11.2% in the 1st quarter. WCM Investment Management LLC now owns 242,083 shares of the financial services provider's stock valued at $27,200,000 after purchasing an additional 24,296 shares during the last quarter. Royce & Associates LP raised its position in shares of FTAI Aviation by 97.9% in the 1st quarter. Royce & Associates LP now owns 411,248 shares of the financial services provider's stock valued at $45,661,000 after purchasing an additional 203,447 shares during the last quarter. GAMMA Investing LLC raised its position in shares of FTAI Aviation by 24,780.1% in the 1st quarter. GAMMA Investing LLC now owns 47,521 shares of the financial services provider's stock valued at $5,276,000 after purchasing an additional 47,330 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of FTAI Aviation by 5.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,879 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 443 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors.

FTAI Aviation Stock Up 3.5%

Shares of FTAI stock traded up $4.84 during trading hours on Tuesday, hitting $142.56. 977,943 shares of the company's stock were exchanged, compared to its average volume of 2,325,806. The firm has a market cap of $14.62 billion, a P/E ratio of 35.29 and a beta of 1.61. The firm has a 50 day moving average of $122.45 and a two-hundred day moving average of $114.06. FTAI Aviation Ltd. has a fifty-two week low of $75.06 and a fifty-two week high of $181.64.

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

FTAI Aviation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 12th. FTAI Aviation's payout ratio is 29.70%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FTAI shares. Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. Citizens Jmp raised FTAI Aviation to a "strong-buy" rating in a report on Thursday, May 8th. Royal Bank Of Canada lifted their target price on FTAI Aviation from $130.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen raised FTAI Aviation from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Barclays decreased their target price on FTAI Aviation from $180.00 to $150.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $176.42.

About FTAI Aviation

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.