Panagora Asset Management Inc. Buys 25,066 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Panagora Asset Management Inc. increased its holdings in FTAI Aviation Ltd. by 35% during the first quarter, owning 96,596 shares valued at approximately $10.7 million.
• FTAI Aviation reported an EPS of $1.57 for the most recent quarter, surpassing the consensus estimate by $0.24, while its revenue saw a year-over-year increase of 52.4%.
• Analysts are optimistic about FTAI Aviation, with several raising their price targets, leading to an average price target of $182.83 and a majority rating of "Buy" for the stock.

Panagora Asset Management Inc. grew its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 35.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 96,596 shares of the financial services provider's stock after acquiring an additional 25,066 shares during the period. Panagora Asset Management Inc. owned about 0.09% of FTAI Aviation worth $10,725,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Hiddenite Capital Partners LP lifted its holdings in shares of FTAI Aviation by 40.0% in the first quarter. Hiddenite Capital Partners LP now owns 70,000 shares of the financial services provider's stock valued at $7,772,000 after purchasing an additional 20,000 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of FTAI Aviation in the first quarter valued at $323,000. Broad Bay Capital Management LP lifted its holdings in shares of FTAI Aviation by 26.8% in the first quarter. Broad Bay Capital Management LP now owns 236,173 shares of the financial services provider's stock valued at $26,222,000 after purchasing an additional 49,885 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of FTAI Aviation by 313.1% in the first quarter. Ieq Capital LLC now owns 12,022 shares of the financial services provider's stock valued at $1,335,000 after purchasing an additional 9,112 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of FTAI Aviation in the first quarter valued at $29,000. Hedge funds and other institutional investors own 88.96% of the company's stock.

FTAI Aviation Stock Performance

Shares of NASDAQ FTAI traded down $1.55 during mid-day trading on Friday, reaching $154.00. The company had a trading volume of 1,489,286 shares, compared to its average volume of 980,949. 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 $15.80 billion, a PE ratio of 38.12 and a beta of 1.65. The stock's 50 day moving average is $131.19 and its 200-day moving average is $119.06.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.24. FTAI Aviation had a net margin of 21.31% and a return on equity of 465.13%. The business had revenue of $676.24 million for the quarter, compared to the consensus estimate of $754.75 million. During the same period in the prior year, the business posted ($2.26) earnings per share. FTAI Aviation's revenue for the quarter was up 52.4% compared to the same quarter last year. On average, sell-side analysts anticipate that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, August 12th. FTAI Aviation's dividend payout ratio (DPR) is 29.70%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FTAI shares. 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. Wall Street Zen lowered FTAI Aviation from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. 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 upped their price target on shares of FTAI Aviation from $180.00 to $205.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Finally, Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, FTAI Aviation presently has an average rating of "Buy" and an average target price 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.