Cannell & Spears LLC Sells 311,372 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Cannell & Spears cut its FTAI Aviation stake by 88%, selling 311,372 shares in Q3 and retaining 42,484 shares valued at about $7.09 million per its SEC filing.
• FTAI missed Q results with $1.08 EPS (vs. $1.22 est.) and $662.03M revenue (vs. $710.37M est.), though revenue was up 32.7% year-over-year and the company reported a very high return on equity (257%).
• The firm pays a quarterly dividend of $0.40 ($1.60 annual, ~0.7% yield), has a $22.8B market cap, and carries a consensus "Moderate Buy" analyst rating with an average target of $292.78.

Cannell & Spears LLC lowered its stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 88.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,484 shares of the financial services provider's stock after selling 311,372 shares during the period. Cannell & Spears LLC's holdings in FTAI Aviation were worth $7,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FTAI. Mather Group LLC. bought a new position in FTAI Aviation during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC lifted its position in FTAI Aviation by 880.0% in the third quarter. Global Retirement Partners LLC now owns 343 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 308 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of FTAI Aviation by 22.7% during the third quarter. GAMMA Investing LLC now owns 525 shares of the financial services provider's stock valued at $88,000 after purchasing an additional 97 shares during the period. Rossby Financial LCC boosted its stake in shares of FTAI Aviation by 13.6% during the third quarter. Rossby Financial LCC now owns 543 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 65 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of FTAI Aviation by 11.0% in the third quarter. Assetmark Inc. now owns 708 shares of the financial services provider's stock worth $118,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 88.96% of the company's stock.

FTAI Aviation Price Performance

Shares of FTAI Aviation stock opened at $222.24 on Friday. The business has a 50 day moving average of $272.50 and a 200 day moving average of $205.80. FTAI Aviation Ltd. has a 52 week low of $81.45 and a 52 week high of $323.51. The company has a market cap of $22.80 billion, a PE ratio of 48.10, a P/E/G ratio of 0.90 and a beta of 1.50. The company has a quick ratio of 2.30, a current ratio of 5.28 and a debt-to-equity ratio of 10.32.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $662.03 million during the quarter, compared to the consensus estimate of $710.37 million. FTAI Aviation had a net margin of 19.98% and a return on equity of 257.07%. The business's revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. As a group, equities research analysts forecast that FTAI Aviation Ltd. will post 2.2 earnings per share for the current year.

FTAI Aviation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 13th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. FTAI Aviation's payout ratio is presently 30.30%.

Analysts Set New Price Targets

FTAI has been the topic of several analyst reports. Zacks Research raised shares of FTAI Aviation from a "strong sell" rating to a "hold" rating in a research note on Friday, January 9th. Morgan Stanley increased their price target on shares of FTAI Aviation from $220.00 to $266.00 and gave the company an "overweight" rating in a research report on Tuesday, January 6th. Royal Bank Of Canada boosted their price objective on shares of FTAI Aviation from $270.00 to $350.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Wolfe Research reaffirmed an "outperform" rating and set a $225.00 price objective on shares of FTAI Aviation in a research note on Wednesday, December 31st. Finally, BTIG Research increased their target price on shares of FTAI Aviation from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Friday. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $292.78.

FTAI Aviation Company Profile

FTAI Aviation NASDAQ: FTAI is a commercial aircraft leasing company that acquires, manages and leases wide-body jet aircraft to airlines globally. The company's portfolio is focused on modern, fuel-efficient Boeing models, including the 767, 777 and 787 families, which are deployed under long-term operating leases. By concentrating on in-demand wide-body assets, FTAI Aviation seeks to deliver stable cash flows through lease rentals and maintenance reserve collections while providing airlines with flexible fleet solutions.

In addition to lease origination, FTAI Aviation offers end-to-end asset management services.

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