Mirae Asset Global Investments Co. Ltd. Makes New $1.52 Million Investment in FTAI Aviation Ltd. $FTAI

Key Points

• Mirae Asset Global Investments opened a position in FTAI Aviation, buying 9,081 shares valued at about $1.52 million. Institutional investors collectively own nearly 89% of the company’s stock.
• FTAI Aviation beat quarterly earnings estimates, reporting $1.43 per share versus $1.31 expected; revenue rose 46.6% year over year to $977.66 million.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $304.38, while the company declared a quarterly dividend of $0.50 per share.

Mirae Asset Global Investments Co. Ltd. purchased a new position in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,081 shares of the financial services provider's stock, valued at approximately $1,517,000.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in shares of FTAI Aviation by 2.5% during the 2nd quarter. State Street Corp now owns 3,083,589 shares of the financial services provider's stock valued at $834,203,000 after acquiring an additional 75,452 shares during the period. Bank of America Corp DE raised its holdings in shares of FTAI Aviation by 8.2% in the 1st quarter. Bank of America Corp DE now owns 885,337 shares of the financial services provider's stock worth $216,908,000 after purchasing an additional 67,097 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of FTAI Aviation by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 631,212 shares of the financial services provider's stock worth $154,515,000 after purchasing an additional 15,291 shares during the period. First Trust Advisors LP raised its holdings in shares of FTAI Aviation by 5.0% in the 1st quarter. First Trust Advisors LP now owns 383,773 shares of the financial services provider's stock worth $94,024,000 after purchasing an additional 18,399 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in FTAI Aviation by 27.6% in the first quarter. Bank of New York Mellon Corp now owns 361,230 shares of the financial services provider's stock valued at $88,501,000 after purchasing an additional 78,152 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company's stock.

FTAI Aviation Stock Up 11.0%

FTAI opened at $180.27 on Friday. The company has a 50 day moving average of $177.21 and a 200 day moving average of $230.04. The company has a market cap of $18.43 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.55. FTAI Aviation Ltd. has a 12 month low of $146.48 and a 12 month high of $323.51. The company has a current ratio of 3.82, a quick ratio of 2.07 and a debt-to-equity ratio of 7.97.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.12. FTAI Aviation had a net margin of 15.46% and a return on equity of 132.04%. The business had revenue of $977.66 million during the quarter. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The firm's quarterly revenue was up 46.6% on a year-over-year basis. On average, sell-side analysts expect that FTAI Aviation Ltd. will post 5.37 EPS for the current year.

FTAI Aviation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Tuesday, November 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 10th. FTAI Aviation's dividend payout ratio (DPR) is presently 40.57%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FTAI. Morgan Stanley decreased their target price on FTAI Aviation from $360.00 to $310.00 and set an "overweight" rating for the company in a research report on Friday, October 16th. BTIG Research dropped their price target on FTAI Aviation from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Jefferies Financial Group reiterated a "buy" rating and set a $325.00 price target on shares of FTAI Aviation in a research note on Sunday, August 2nd. Royal Bank Of Canada decreased their price objective on FTAI Aviation from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Wednesday, October 28th. Finally, Barclays decreased their price objective on FTAI Aviation from $350.00 to $310.00 and set an "overweight" rating for the company in a report on Tuesday, September 15th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, FTAI Aviation currently has a consensus rating of "Moderate Buy" and an average price target of $304.38.

FTAI Aviation Profile

FTAI Aviation owns and manages a portfolio of commercial jet engines and aircraft, which it leases to airlines and other aviation customers around the world. Its business focuses on mid-life equipment, providing customers with access to engines and aircraft without requiring them to own those assets outright.

The company also supports its leasing operations with maintenance, repair and overhaul services, as well as the sale and exchange of engine modules and parts. Its work is particularly focused on the CFM56 and V2500 engine families, which are widely used on commercial aircraft.

FTAI Aviation serves customers across the global aviation industry, including airlines, aircraft lessors and maintenance providers.

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