Goldman Sachs Group Inc. Buys 156,019 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Goldman Sachs increased its stake in FTAI Aviation Ltd. by 23.0%, owning 832,984 shares after acquiring an additional 156,019 shares, valued at approximately $92.5 million.
• A number of institutional investors have also ramped up their positions in FTAI Aviation, with Wellington Management Group boosting its stake by 159.6% recently.
• FTAI Aviation recently announced a quarterly dividend of $0.30 per share, with a current dividend yield of 0.7% and a payout ratio of 29.70%.

Goldman Sachs Group Inc. grew its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 23.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 832,984 shares of the financial services provider's stock after purchasing an additional 156,019 shares during the period. Goldman Sachs Group Inc. owned approximately 0.81% of FTAI Aviation worth $92,486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in FTAI Aviation by 159.6% in the first quarter. Wellington Management Group LLP now owns 2,347,633 shares of the financial services provider's stock worth $260,658,000 after buying an additional 1,443,440 shares during the period. Empyrean Capital Partners LP bought a new position in shares of FTAI Aviation in the 1st quarter worth approximately $61,546,000. Shellback Capital LP purchased a new position in shares of FTAI Aviation in the 4th quarter valued at approximately $76,510,000. Sessa Capital IM L.P. bought a new stake in shares of FTAI Aviation during the first quarter valued at approximately $44,412,000. Finally, Appian Way Asset Management LP boosted its position in shares of FTAI Aviation by 601.8% during the first quarter. Appian Way Asset Management LP now owns 450,780 shares of the financial services provider's stock valued at $50,050,000 after purchasing an additional 386,549 shares in the last quarter. Hedge funds and other institutional investors own 88.96% of the company's stock.

FTAI Aviation Stock Up 0.5%

FTAI Aviation stock traded up $0.85 during trading hours on Monday, hitting $172.51. The stock had a trading volume of 831,724 shares, compared to its average volume of 1,138,173. The stock's 50-day moving average price is $137.80 and its 200-day moving average price is $120.40. The stock has a market capitalization of $17.69 billion, a P/E ratio of 42.70 and a beta of 1.65. FTAI Aviation Ltd. has a 12-month low of $75.06 and a 12-month high of $181.64.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last announced 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. FTAI Aviation had a net margin of 21.31% and a return on equity of 465.13%. The company had revenue of $676.24 million during the quarter, compared to the consensus estimate of $754.75 million. During the same quarter last year, the firm earned ($2.26) earnings per share. The firm's quarterly 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 fiscal 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 paid a $0.30 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. FTAI Aviation's payout ratio is currently 29.70%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Zacks Research raised FTAI Aviation from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. JMP Securities lifted their price target on shares of FTAI Aviation from $180.00 to $205.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Citigroup reissued a "buy" rating on shares of FTAI Aviation in a research note on Thursday, July 10th. Royal Bank Of Canada lifted their target price on shares of FTAI Aviation from $130.00 to $160.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price target on FTAI Aviation from $138.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $182.83.

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.