Concentric Capital Strategies LP Sells 103,940 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Concentric Capital Strategies LP significantly cut its stake in FTAI Aviation Ltd. by 97.5%, selling 103,940 shares to hold just 2,694 shares, valued at $299,000.
• Institutional investors currently own 88.96% of FTAI Aviation's stock, with various hedge funds either increasing their holdings or acquiring new positions in the first quarter of the year.
• FTAI Aviation achieved a 52.4% year-over-year revenue increase, reporting earnings per share of $1.57 for the last quarter, surpassing analysts' expectations.

Concentric Capital Strategies LP reduced its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 97.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,694 shares of the financial services provider's stock after selling 103,940 shares during the period. Concentric Capital Strategies LP's holdings in FTAI Aviation were worth $299,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its holdings in FTAI Aviation by 27.3% during 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 buying an additional 31,694 shares in the last quarter. WCM Investment Management LLC lifted its position in 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 worth $27,200,000 after buying an additional 24,296 shares during the last quarter. Royce & Associates LP lifted its position in FTAI Aviation by 97.9% in the 1st quarter. Royce & Associates LP now owns 411,248 shares of the financial services provider's stock worth $45,661,000 after buying an additional 203,447 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 worth $5,276,000 after buying an additional 47,330 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in FTAI Aviation by 5.3% in the first 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. Institutional investors and hedge funds own 88.96% of the company's stock.

Analyst Ratings Changes

FTAI has been the topic of a number of recent research reports. BTIG Research increased their target price on FTAI Aviation from $190.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. JMP Securities upped their price target on FTAI Aviation from $180.00 to $205.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Morgan Stanley upped their price target on FTAI Aviation from $138.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. Finally, Royal Bank Of Canada upped their price target on FTAI Aviation from $130.00 to $160.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, FTAI Aviation currently has a consensus rating of "Buy" and a consensus price target of $182.83.

FTAI Aviation Price Performance

Shares of NASDAQ:FTAI traded up $3.03 during trading on Wednesday, hitting $168.42. 338,085 shares of the company's stock were exchanged, compared to its average volume of 2,186,294. FTAI Aviation Ltd. has a 52-week low of $75.06 and a 52-week high of $181.64. The business's 50-day simple moving average is $133.25 and its 200 day simple moving average is $119.42. The company has a market cap of $17.27 billion, a price-to-earnings ratio of 41.69 and a beta of 1.65.

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

FTAI Aviation Dividend Announcement

The business also recently disclosed 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 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. FTAI Aviation's dividend payout ratio (DPR) is presently 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.