Goldman Sachs Group Inc. Increases Position in 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. boosted its position in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 23.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.81% of FTAI Aviation worth $92,486,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in FTAI Aviation by 420.9% in the 1st quarter. Versant Capital Management Inc now owns 224 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in FTAI Aviation in the 4th quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new stake in FTAI Aviation during the 1st quarter valued at $29,000. Rakuten Securities Inc. acquired a new stake in FTAI Aviation during the 1st quarter valued at $34,000. Finally, Rossby Financial LCC acquired a new stake in FTAI Aviation during the 1st quarter valued at $45,000. 88.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FTAI. Zacks Research upgraded FTAI Aviation from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. BTIG Research increased their target price on FTAI Aviation from $190.00 to $230.00 and gave the company a "buy" rating in a report on Monday, August 25th. JMP Securities increased their target price 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 increased their target price on FTAI Aviation from $138.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada increased their target price 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 given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, FTAI Aviation presently has a consensus rating of "Buy" and an average price target of $182.83.

FTAI Aviation Stock Performance

FTAI Aviation stock traded up $4.13 during midday trading on Thursday, reaching $178.17. The stock had a trading volume of 1,180,395 shares, compared to its average volume of 1,106,430. The stock's 50-day simple moving average is $141.67 and its 200 day simple moving average is $121.55. FTAI Aviation Ltd. has a twelve month low of $75.06 and a twelve month high of $181.64. The stock has a market capitalization of $18.27 billion, a PE ratio of 44.10 and a beta of 1.65.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.57 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 company had revenue of $676.24 million for the quarter, compared to analyst estimates of $754.75 million. During the same period last year, the company posted ($2.26) earnings per share. The firm's revenue was up 52.4% compared to the same quarter last year. Equities analysts predict that FTAI Aviation Ltd. will post 2.2 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The firm also recently announced 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 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. FTAI Aviation's payout ratio is presently 29.70%.

FTAI Aviation 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.