State of New Jersey Common Pension Fund D Lowers Position in FTAI Aviation Ltd. $FTAI

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in FTAI Aviation Ltd. by 6.5%, holding 35,357 shares valued at $3,926,000 after selling 2,448 shares in the first quarter.
• FTAI Aviation reported $1.57 earnings per share for the most recent quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 52.4% despite not meeting revenue expectations.
• The company announced a quarterly dividend of $0.30 per share, representing an annualized payout of $1.20 and a dividend yield of 0.9%, with a payout ratio of 29.70%.

State of New Jersey Common Pension Fund D trimmed its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,357 shares of the financial services provider's stock after selling 2,448 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in FTAI Aviation were worth $3,926,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in FTAI Aviation by 420.9% in the 1st quarter. Versant Capital Management Inc now owns 224 shares of the financial services provider's stock worth $25,000 after acquiring an additional 181 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in FTAI Aviation in the 4th quarter worth approximately $26,000. Transce3nd LLC purchased a new position in shares of FTAI Aviation in the 4th quarter valued at approximately $29,000. Kapitalo Investimentos Ltda purchased a new position in shares of FTAI Aviation in the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. purchased a new position in shares of FTAI Aviation in the 1st quarter valued at approximately $34,000. 88.96% of the stock is currently owned by institutional investors.

FTAI Aviation Price Performance

Shares of FTAI traded up $0.59 during trading hours on Monday, hitting $148.30. The stock had a trading volume of 167,164 shares, compared to its average volume of 2,250,749. The stock has a fifty day moving average price of $126.11 and a 200 day moving average price of $116.50. The firm has a market capitalization of $15.21 billion, a PE ratio of 36.71 and a beta of 1.61. FTAI Aviation Ltd. has a 12 month low of $75.06 and a 12 month high of $181.64.

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

FTAI Aviation Dividend Announcement

The business also recently declared 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 of this dividend was Tuesday, August 12th. FTAI Aviation's payout ratio is currently 29.70%.

Wall Street Analyst Weigh In

FTAI has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their target price on FTAI Aviation from $130.00 to $160.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded FTAI Aviation from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus upgraded FTAI Aviation from a "hold" rating to a "buy" rating and set a $123.00 price objective for the company in a research note on Friday, May 2nd. BTIG Research lifted their price objective on FTAI Aviation from $190.00 to $230.00 and gave the company a "buy" rating in a research note on Monday. Finally, Zacks Research upgraded FTAI Aviation from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $182.83.

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.