Geode Capital Management LLC Buys 71,271 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Geode Capital Management increased its FTAI Aviation stake by 3.7% in the fourth quarter, buying 71,271 additional shares and bringing its holdings to 2,004,963 shares valued at about $394.8 million.
• Insider selling was notable last quarter, including director Martin Tuchman’s sale of 67,500 shares and Judith A. Hannaway’s sale of 255 shares; insiders sold 254,515 shares total during the period.
• Analysts remain mostly constructive on the stock, with 10 Buy ratings and one Hold, though views are mixed after FTAI missed quarterly EPS estimates despite 65.4% year-over-year revenue growth.

Geode Capital Management LLC boosted its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,004,963 shares of the financial services provider's stock after acquiring an additional 71,271 shares during the period. Geode Capital Management LLC owned 1.95% of FTAI Aviation worth $394,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital International Investors increased its stake in FTAI Aviation by 0.7% during the 3rd quarter. Capital International Investors now owns 13,895,852 shares of the financial services provider's stock worth $2,318,615,000 after acquiring an additional 94,383 shares during the period. Capital World Investors boosted its holdings in shares of FTAI Aviation by 17.3% in the 3rd quarter. Capital World Investors now owns 6,320,565 shares of the financial services provider's stock valued at $1,054,649,000 after purchasing an additional 933,944 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of FTAI Aviation by 28.3% in the 2nd quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider's stock valued at $390,455,000 after purchasing an additional 749,080 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of FTAI Aviation by 11.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,130,241 shares of the financial services provider's stock valued at $355,452,000 after purchasing an additional 214,830 shares in the last quarter. Finally, Northern Right Capital Management L.P. boosted its holdings in shares of FTAI Aviation by 884.1% in the 2nd quarter. Northern Right Capital Management L.P. now owns 885,675 shares of the financial services provider's stock valued at $101,888,000 after purchasing an additional 795,675 shares in the last quarter. Institutional investors own 88.96% of the company's stock.

Insider Activity at FTAI Aviation

In related news, Director Martin Tuchman sold 67,500 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $241.99, for a total value of $16,334,325.00. Following the sale, the director directly owned 210,491 shares in the company, valued at $50,936,717.09. This represents a 24.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Hannaway sold 255 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total value of $64,741.95. Following the completion of the sale, the director owned 3,012 shares in the company, valued at $764,716.68. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 254,515 shares of company stock worth $61,599,445 over the last quarter. 1.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTAI. BTIG Research raised their target price on FTAI Aviation from $335.00 to $340.00 and gave the company a "buy" rating in a report on Friday, March 13th. Zacks Research downgraded FTAI Aviation from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Jefferies Financial Group reissued a "buy" rating and set a $400.00 price objective on shares of FTAI Aviation in a report on Sunday, May 3rd. Morgan Stanley reissued an "overweight" rating and set a $319.00 price objective on shares of FTAI Aviation in a report on Friday, May 8th. Finally, Weiss Ratings downgraded FTAI Aviation from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, FTAI Aviation currently has an average rating of "Moderate Buy" and a consensus price target of $326.88.

FTAI Aviation Price Performance

Shares of FTAI opened at $260.34 on Monday. The company has a market capitalization of $26.71 billion, a PE ratio of 51.65, a PEG ratio of 1.05 and a beta of 1.47. FTAI Aviation Ltd. has a 12 month low of $108.47 and a 12 month high of $323.51. The stock's 50-day moving average price is $248.32 and its two-hundred day moving average price is $235.48. The company has a current ratio of 5.24, a quick ratio of 2.48 and a debt-to-equity ratio of 8.00.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.32). FTAI Aviation had a return on equity of 181.43% and a net margin of 18.92%.The company had revenue of $830.70 million for the quarter. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The company's revenue for the quarter was up 65.4% on a year-over-year basis. On average, analysts anticipate that FTAI Aviation Ltd. will post 6.77 EPS for the current year.

FTAI Aviation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were issued a $0.45 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.80 annualized dividend and a yield of 0.7%. FTAI Aviation's dividend payout ratio is presently 31.75%.

About FTAI Aviation

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.