Principal Financial Group Inc. Sells 32,966 Shares of FTAI Aviation Ltd. (NASDAQ:FTAI)

Principal Financial Group Inc. cut its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 80.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,111 shares of the financial services provider's stock after selling 32,966 shares during the period. Principal Financial Group Inc.'s holdings in FTAI Aviation were worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FTAI. Amundi acquired a new position in FTAI Aviation in the fourth quarter valued at $238,000. Avantax Advisory Services Inc. bought a new position in shares of FTAI Aviation in the fourth quarter worth approximately $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in FTAI Aviation during the fourth quarter valued at $251,000. Cibc World Markets Corp purchased a new position in FTAI Aviation in the 4th quarter worth about $1,369,000. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of FTAI Aviation by 10.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 3,965 shares of the financial services provider's stock valued at $571,000 after buying an additional 362 shares in the last quarter. 88.96% of the stock is owned by institutional investors and hedge funds.

FTAI Aviation Trading Up 0.3%

FTAI stock traded up $0.29 during trading on Monday, hitting $113.88. The company had a trading volume of 785,410 shares, compared to its average volume of 2,409,427. FTAI Aviation Ltd. has a one year low of $75.06 and a one year high of $181.64. The business has a 50-day moving average of $119.13 and a 200-day moving average of $114.66. The stock has a market cap of $11.68 billion, a PE ratio of 542.29 and a beta of 1.62.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.08). FTAI Aviation had a net margin of 3.74% and a return on equity of 438.32%. During the same period in the prior year, the business earned $0.31 earnings per share. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. Research analysts forecast that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, May 16th. FTAI Aviation's payout ratio is 571.43%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FTAI. Barclays cut their target price on shares of FTAI Aviation from $180.00 to $150.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus upgraded FTAI Aviation from a "hold" rating to a "buy" rating and set a $123.00 price objective on the stock in a report on Friday, May 2nd. JMP Securities reduced their target price on shares of FTAI Aviation from $190.00 to $180.00 and set a "market outperform" rating on the stock in a research note on Thursday, May 8th. Citizens Jmp upgraded shares of FTAI Aviation to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen raised FTAI Aviation to a "sell" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, FTAI Aviation has a consensus rating of "Moderate Buy" and an average price target of $171.83.

Insider Activity

In related news, insider Stacy Kuperus purchased 1,087 shares of the stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $92.90 per share, for a total transaction of $100,982.30. Following the completion of the acquisition, the insider owned 88,423 shares of the company's stock, valued at approximately $8,214,496.70. This represents a 1.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph P. Jr. Adams purchased 3,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $94.54 per share, with a total value of $283,620.00. Following the purchase, the chief executive officer owned 341,852 shares in the company, valued at $32,318,688.08. The trade was a 0.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,667 shares of company stock valued at $1,008,715 in the last 90 days. 1.60% of the stock is owned by company insiders.

About FTAI Aviation

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.