Fred Alger Management LLC Acquires 251,161 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Fred Alger Management LLC increased its stake in FTAI Aviation Ltd. by 85.0% during the first quarter, now owning approximately 546,765 shares valued at $60.7 million.
• FTAI Aviation reported a quarterly earnings of $1.57 per share, exceeding estimates of $1.33, with revenues of $676.24 million for the quarter.
• The company announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 0.8% with a payout ratio of 29.70%.

Fred Alger Management LLC grew its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 85.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 546,765 shares of the financial services provider's stock after purchasing an additional 251,161 shares during the period. Fred Alger Management LLC owned approximately 0.53% of FTAI Aviation worth $60,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised 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 acquiring an additional 181 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of FTAI Aviation in the 4th quarter worth about $26,000. Virtus Advisers LLC acquired a new stake in shares of FTAI Aviation in the 1st quarter worth about $29,000. Rakuten Securities Inc. acquired a new stake in shares of FTAI Aviation in the 1st quarter worth about $34,000. Finally, Rossby Financial LCC acquired a new stake in shares of FTAI Aviation in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 88.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FTAI. Royal Bank Of Canada upped their target price on shares of FTAI Aviation from $130.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. JMP Securities upped their price objective on shares of FTAI Aviation from $180.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of FTAI Aviation from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a research report on Thursday, July 10th. Finally, BTIG Research upped their price objective on shares of FTAI Aviation from $190.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $182.83.

FTAI Aviation Price Performance

Shares of FTAI Aviation stock traded up $1.81 on Friday, reaching $171.66. 1,015,616 shares of the company traded hands, compared to its average volume of 1,131,772. FTAI Aviation Ltd. has a 52 week low of $75.06 and a 52 week high of $181.64. The company has a 50 day moving average of $136.58 and a 200 day moving average of $120.30. The firm has a market capitalization of $17.61 billion, a PE ratio of 42.49 and a beta of 1.65.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.57 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $754.75 million. During the same period in the prior year, the firm earned ($2.26) EPS. The company's revenue was up 52.4% compared to the same quarter last year. As a group, analysts anticipate that FTAI Aviation Ltd. will post 2.2 earnings per share for the current year.

FTAI Aviation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.20 annualized dividend and a yield of 0.7%. FTAI Aviation's dividend payout ratio (DPR) is 29.70%.

FTAI Aviation Company 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.