Mackenzie Financial Corp Acquires 9,578 Shares of FTAI Aviation Ltd. (NASDAQ:FTAI)

Key Points

• Mackenzie Financial Corp increased its stake in FTAI Aviation Ltd. by 94.2%, owning 19,745 shares valued at approximately $2.19 million after purchasing an additional 9,578 shares in the first quarter.
• A number of institutional investors raised their stakes in FTAI Aviation, including LPL Financial and O Shaughnessy Asset Management, contributing to 88.96% of the company's stock being owned by hedge funds and institutional investors.
• FTAI Aviation recently announced a quarterly dividend of $0.30 per share, with an annual yield of 0.9%, following a strong quarterly performance where earnings per share surpassed estimates.

Mackenzie Financial Corp boosted its holdings in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 94.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,745 shares of the financial services provider's stock after purchasing an additional 9,578 shares during the quarter. Mackenzie Financial Corp's holdings in FTAI Aviation were worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Capital International Investors raised its holdings in shares of FTAI Aviation by 39.7% during the 4th quarter. Capital International Investors now owns 10,677,171 shares of the financial services provider's stock valued at $1,537,940,000 after buying an additional 3,034,838 shares during the period. Hood River Capital Management LLC boosted its position in FTAI Aviation by 8.0% during the 4th quarter. Hood River Capital Management LLC now owns 2,069,824 shares of the financial services provider's stock valued at $298,137,000 after purchasing an additional 153,909 shares during the period. Two Sigma Advisers LP grew its position in shares of FTAI Aviation by 24.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,305,400 shares of the financial services provider's stock worth $188,030,000 after acquiring an additional 256,800 shares during the last quarter. Northern Trust Corp increased its stake in shares of FTAI Aviation by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,035,951 shares of the financial services provider's stock valued at $149,218,000 after purchasing an additional 70,775 shares during the period. Finally, Two Sigma Investments LP raised its stake in FTAI Aviation by 16.6% during the 4th quarter. Two Sigma Investments LP now owns 844,772 shares of the financial services provider's stock valued at $121,681,000 after acquiring an additional 120,289 shares in the last quarter. 88.96% of the stock is currently owned by hedge funds and other institutional investors.

FTAI Aviation Trading Up 3.0%

FTAI stock traded up $4.15 during midday trading on Monday, hitting $141.47. The stock had a trading volume of 1,163,253 shares, compared to its average volume of 1,652,325. The firm has a market cap of $14.51 billion, a P/E ratio of 35.02 and a beta of 1.61. The business has a fifty day moving average price of $120.54 and a two-hundred day moving average price of $112.60. FTAI Aviation Ltd. has a 1-year low of $75.06 and a 1-year high of $181.64.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.33 by $0.24. The firm had revenue of $676.24 million during the quarter, compared to the consensus estimate of $754.75 million. FTAI Aviation had a return on equity of 601.23% and a net margin of 21.31%. The company's quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.26) earnings per share. On average, equities analysts anticipate that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.20 dividend on an annualized basis and a yield of 0.8%. FTAI Aviation's payout ratio is presently 29.70%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FTAI. Citizens Jmp raised FTAI Aviation to a "strong-buy" rating in a research note on Thursday, May 8th. Barclays reduced their target price on FTAI Aviation from $180.00 to $150.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised FTAI Aviation from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup restated a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. Finally, Morgan Stanley decreased their target price on shares of FTAI Aviation from $168.00 to $138.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, FTAI Aviation currently has an average rating of "Buy" and a consensus price target of $174.33.

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.