Legal & General Group Plc Cuts Holdings in FTAI Aviation Ltd. $FTAI

Key Points

• Legal & General Group Plc cut its FTAI Aviation stake by 9% in the fourth quarter, selling 10,639 shares and ending with 107,453 shares valued at about $21.2 million.
• FTAI Aviation reported Q1 earnings of $1.29 per share, missing analyst estimates of $1.61, even though revenue rose 65.4% year over year to $830.7 million.
• Analysts remain mostly constructive on the stock, with 10 Buy ratings and 1 Hold; the consensus target price is $326.88, above the shares’ recent open of $260.34.

Legal & General Group Plc decreased its stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,453 shares of the financial services provider's stock after selling 10,639 shares during the period. Legal & General Group Plc owned about 0.10% of FTAI Aviation worth $21,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTAI. Capital World Investors grew its position in FTAI Aviation by 17.3% in the third quarter. Capital World Investors now owns 6,320,565 shares of the financial services provider's stock worth $1,054,649,000 after acquiring an additional 933,944 shares in the last quarter. Northern Right Capital Management L.P. raised its position in FTAI Aviation by 884.1% during the second 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. Rubric Capital Management LP raised its position in FTAI Aviation by 28.3% during the second 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. JPMorgan Chase & Co. lifted its stake in FTAI Aviation by 396.7% during the third quarter. JPMorgan Chase & Co. now owns 831,414 shares of the financial services provider's stock worth $138,730,000 after purchasing an additional 664,037 shares during the last quarter. Finally, Oaktree Capital Management LP bought a new stake in FTAI Aviation during the third quarter worth about $97,642,000. Hedge funds and other institutional investors own 88.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on FTAI shares. Zacks Research lowered FTAI Aviation from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Barclays boosted their target price on FTAI Aviation from $260.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. BTIG Research increased their price target on shares of FTAI Aviation from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Morgan Stanley reissued an "overweight" rating and set a $319.00 price target on shares of FTAI Aviation in a research note on Friday, May 8th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $400.00 price objective on shares of FTAI Aviation in a report on Sunday, May 3rd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $326.88.

FTAI Aviation Stock Performance

Shares of FTAI stock opened at $260.34 on Monday. The business has a 50-day moving average of $248.32 and a 200 day moving average of $235.48. The company has a debt-to-equity ratio of 8.00, a current ratio of 5.24 and a quick ratio of 2.48. FTAI Aviation Ltd. has a 1-year low of $108.47 and a 1-year high of $323.51. The stock has a market capitalization of $26.71 billion, a PE ratio of 51.65, a P/E/G ratio of 1.05 and a beta of 1.47.

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

FTAI Aviation Announces Dividend

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

Insiders Place Their Bets

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

FTAI Aviation Company Profile

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.

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