FTAI Aviation Ltd. $FTAI Shares Acquired by State Street Corp

Key Points

• State Street increased its FTAI Aviation stake by 2.5% in the second quarter, adding 75,452 shares to own 3.08 million shares, or about 3% of the company. Institutional investors and hedge funds collectively own 88.96% of outstanding shares.
• Analyst sentiment remains positive, with nine Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $315.67, despite several firms recently lowering their targets.
• FTAI reported quarterly EPS of $1.13, below the $1.32 consensus estimate, while revenue rose 40.9% year over year to $953.09 million. The company also maintains a $0.50 quarterly dividend, equivalent to a 1.1% yield.

State Street Corp increased its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,083,589 shares of the financial services provider's stock after buying an additional 75,452 shares during the quarter. State Street Corp owned about 3.00% of FTAI Aviation worth $834,203,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mediolanum International Funds Ltd purchased a new position in shares of FTAI Aviation in the first quarter worth about $1,313,000. Baird Financial Group Inc. boosted its position in FTAI Aviation by 619.2% in the second quarter. Baird Financial Group Inc. now owns 89,672 shares of the financial services provider's stock valued at $24,259,000 after buying an additional 77,203 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in FTAI Aviation in the first quarter valued at approximately $7,217,000. Swiss National Bank increased its holdings in FTAI Aviation by 48.9% in the 1st quarter. Swiss National Bank now owns 301,000 shares of the financial services provider's stock worth $73,745,000 after buying an additional 98,808 shares during the period. Finally, Independent Financial Group LLC purchased a new position in FTAI Aviation during the 1st quarter worth approximately $1,949,000. 88.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on FTAI. Weiss Ratings downgraded shares of FTAI Aviation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Citizens Jmp initiated coverage on shares of FTAI Aviation in a research report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 target price for the company. Royal Bank Of Canada lowered their price target on shares of FTAI Aviation from $350.00 to $300.00 and set an "outperform" rating on the stock in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft set a $290.00 price target on FTAI Aviation in a research report on Friday, July 31st. Finally, Barclays reduced their price objective on FTAI Aviation from $350.00 to $310.00 and set an "overweight" rating for the company in a research note on Tuesday, September 15th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $315.67.

FTAI Aviation Trading Down 2.0%

Shares of FTAI opened at $186.01 on Thursday. FTAI Aviation Ltd. has a 52-week low of $149.50 and a 52-week high of $323.51. The stock has a market cap of $19.11 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 0.94 and a beta of 1.51. The company has a quick ratio of 2.07, a current ratio of 5.28 and a debt-to-equity ratio of 8.55. The firm's fifty day moving average is $203.33 and its two-hundred day moving average is $232.25.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.19). FTAI Aviation had a return on equity of 139.59% and a net margin of 15.94%.The company had revenue of $953.09 million during the quarter. During the same period in the previous year, the business earned $1.57 earnings per share. The firm's revenue was up 40.9% on a year-over-year basis. Research analysts forecast that FTAI Aviation Ltd. will post 5.48 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Wednesday, August 12th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, August 12th. FTAI Aviation's dividend payout ratio is presently 43.48%.

Insider Transactions at FTAI Aviation

In other FTAI Aviation news, President David Moreno bought 2,475 shares of the business's stock in a transaction on Friday, July 31st. The stock was bought at an average price of $201.27 per share, with a total value of $498,143.25. Following the completion of the purchase, the president directly owned 199,490 shares in the company, valued at $40,151,352.30. The trade was a 1.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.35% of the stock is currently owned by company insiders.

FTAI Aviation Profile

FTAI Aviation Ltd. NASDAQ: FTAI is an aviation asset owner and lessor focused on commercial aircraft engines and related aviation equipment. The company primarily acquires, leases and manages aircraft engines, with a particular emphasis on CFM56 engines, which power many Airbus A320-family and Boeing 737 Next Generation aircraft.

In addition to engine leasing, FTAI Aviation owns and leases commercial aircraft and provides aviation aftermarket services. Its activities include engine disassembly, maintenance, repair and overhaul, as well as the sale of engine components and other aircraft parts.

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