Royal Bank of Canada Sells 48,932 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Royal Bank of Canada cut its FTAI Aviation stake by 27.7% in the first quarter, selling 48,932 shares and retaining 127,643 shares worth approximately $31.3 million. Institutional investors collectively own 88.96% of the company.
• FTAI Aviation reported quarterly revenue of $953.1 million, up 40.9% year over year, but earnings of $1.13 per share missed analysts’ $1.32 estimate. The company declared a $0.50-per-share dividend payable August 24 to shareholders of record August 12.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $321.11, despite the stock opening at $225.15 and trading below its 50-day and 200-day moving averages.

Royal Bank of Canada lessened its position in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 27.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,643 shares of the financial services provider's stock after selling 48,932 shares during the period. Royal Bank of Canada owned 0.12% of FTAI Aviation worth $31,273,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital World Investors grew its holdings in shares of FTAI Aviation by 41.1% during the fourth quarter. Capital World Investors now owns 8,916,830 shares of the financial services provider's stock worth $1,755,290,000 after purchasing an additional 2,596,265 shares during the last quarter. Norges Bank bought a new position in FTAI Aviation in the 4th quarter valued at approximately $262,393,000. Northern Right Capital Management L.P. raised its holdings in FTAI Aviation by 884.1% in the 2nd 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 buying an additional 795,675 shares during the last quarter. Rubric Capital Management LP boosted its position in FTAI Aviation by 28.3% during the 2nd quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider's stock worth $390,455,000 after buying an additional 749,080 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in FTAI Aviation by 249.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 617,802 shares of the financial services provider's stock worth $121,614,000 after buying an additional 440,767 shares during the period. 88.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other FTAI Aviation news, President David Moreno acquired 2,475 shares of the company's stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $201.27 per share, with a total value of $498,143.25. Following the purchase, the president directly owned 199,490 shares of the company's stock, valued at $40,151,352.30. This trade represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Hannaway sold 255 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total value of $64,741.95. Following the sale, the director owned 3,012 shares in the company, valued at approximately $764,716.68. The trade was a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.35% of the company's stock.

FTAI Aviation Stock Up 9.3%

FTAI Aviation stock opened at $225.15 on Tuesday. The firm has a market cap of $23.10 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 0.83 and a beta of 1.51. FTAI Aviation Ltd. has a 52-week low of $134.49 and a 52-week high of $323.51. The company has a debt-to-equity ratio of 8.00, a quick ratio of 2.48 and a current ratio of 5.24. The firm has a 50 day moving average price of $238.25 and a two-hundred day moving average price of $253.18.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.32 by ($0.19). FTAI Aviation had a net margin of 15.94% and a return on equity of 146.23%. The firm had revenue of $953.09 million during the quarter. During the same quarter in the prior year, the company posted $1.57 earnings per share. The business's revenue was up 40.9% on a year-over-year basis. Equities analysts predict that FTAI Aviation Ltd. will post 6.77 EPS for the current year.

FTAI Aviation Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, August 24th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 12th. FTAI Aviation's dividend payout ratio is 34.78%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of FTAI Aviation from $350.00 to $300.00 and set an "outperform" rating for the company in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft set a $290.00 price target on shares of FTAI Aviation in a report on Friday. Weiss Ratings upgraded FTAI Aviation from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Jefferies Financial Group restated a "buy" rating and issued a $325.00 price objective on shares of FTAI Aviation in a report on Sunday. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $319.00 target price on shares of FTAI Aviation in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $321.11.

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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