Lord Abbett & CO. LLC Decreases Stake in FTAI Aviation Ltd. $FTAI

Key Points

• Lord Abbett & CO. LLC reduced its stake in FTAI Aviation Ltd. by 63.7%, selling 303,623 shares and now holding 173,396 shares valued at approximately $19.25 million.
• Various hedge funds increased their positions in FTAI Aviation, with Capital International Investors boosting its stake by 39.7% and now owning over 10.6 million shares valued at $1.54 billion.
• FTAI Aviation recently reported an EPS of $1.57, exceeding analyst expectations and marking a 52.4% year-over-year revenue increase, alongside announcing a $0.30 quarterly dividend.

Lord Abbett & CO. LLC decreased its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 63.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,396 shares of the financial services provider's stock after selling 303,623 shares during the period. Lord Abbett & CO. LLC owned approximately 0.17% of FTAI Aviation worth $19,252,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its stake in shares of 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 worth $16,405,000 after purchasing an additional 31,694 shares in the last quarter. WCM Investment Management LLC lifted its stake 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 worth $27,200,000 after acquiring an additional 24,296 shares during the period. Royce & Associates LP raised its holdings 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 worth $45,661,000 after purchasing an additional 203,447 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of FTAI Aviation by 24,780.1% during the first quarter. GAMMA Investing LLC now owns 47,521 shares of the financial services provider's stock valued at $5,276,000 after acquiring an additional 47,330 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in 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 buying an additional 443 shares during the period. 88.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FTAI has been the subject of several research analyst reports. JMP Securities upped their target price on shares of FTAI Aviation from $180.00 to $205.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Stifel Nicolaus raised shares of FTAI Aviation from a "hold" rating to a "buy" rating and set a $123.00 price objective for the company in a research report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a research report on Thursday, July 10th. Wall Street Zen raised shares of FTAI Aviation from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley upped their price objective on shares of FTAI Aviation from $138.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. Based on data from MarketBeat, FTAI Aviation presently has a consensus rating of "Buy" and an average price target of $179.50.

FTAI Aviation Stock Up 5.8%

NASDAQ FTAI traded up $8.21 on Thursday, reaching $148.61. The company had a trading volume of 540,201 shares, compared to its average volume of 2,263,853. The stock has a market capitalization of $15.24 billion, a P/E ratio of 36.78 and a beta of 1.61. The company's fifty day moving average is $125.19 and its 200 day moving average is $116.00. FTAI Aviation Ltd. has a 52-week low of $75.06 and a 52-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 (EPS) for the quarter, beating 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 firm had revenue of $676.24 million during the quarter, compared to analyst estimates of $754.75 million. During the same period last year, the firm posted ($2.26) EPS. The business's revenue was up 52.4% compared to the same quarter last year. On average, research analysts expect that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, August 12th. FTAI Aviation's dividend payout ratio (DPR) is 29.70%.

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.