Sumitomo Mitsui Trust Group Inc. Purchases 191,693 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Sumitomo Mitsui Trust Group bought 191,693 FTAI Aviation shares in the third quarter, worth about $32 million, giving it a 0.19% stake. Institutional investors collectively own nearly 89% of the company.
• FTAI reported quarterly earnings of $1.43 per share, beating the $1.31 consensus, while revenue rose 46.6% year over year to $977.66 million.
• The stock opened at $162.45, well below its 50- and 200-day moving averages. FTAI also announced a quarterly dividend of $0.50 per share, equivalent to a 1.2% yield.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 191,693 shares of the financial services provider's stock, valued at approximately $32,018,000. Sumitomo Mitsui Trust Group Inc. owned 0.19% of FTAI Aviation at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FTAI. Meeder Asset Management Inc. lifted its holdings in shares of FTAI Aviation by 142.2% during the 1st quarter. Meeder Asset Management Inc. now owns 109 shares of the financial services provider's stock worth $27,000 after acquiring an additional 64 shares during the period. Ancora Advisors LLC bought a new stake in FTAI Aviation in the second quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in FTAI Aviation in the second quarter valued at about $37,000. Root Financial Partners LLC bought a new stake in FTAI Aviation in the third quarter valued at about $25,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in FTAI Aviation in the third quarter worth about $25,000. Institutional investors and hedge funds own 88.96% of the company's stock.

FTAI Aviation Stock Down 9.5%

FTAI opened at $162.45 on Friday. The firm's 50-day simple moving average is $177.59 and its 200-day simple moving average is $230.54. The company has a debt-to-equity ratio of 7.97, a quick ratio of 2.07 and a current ratio of 3.82. FTAI Aviation Ltd. has a twelve month low of $146.48 and a twelve month high of $323.51. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 0.89 and a beta of 1.55.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last announced its earnings results on Thursday, October 29th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $1.10 EPS. The company's revenue for the quarter was up 46.6% compared to the same quarter last year. Equities research analysts anticipate that FTAI Aviation Ltd. will post 5.48 EPS for the current fiscal year.

FTAI Aviation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. FTAI Aviation's dividend payout ratio (DPR) is presently 40.57%.

Analysts Set New Price Targets

A number of brokerages have commented on FTAI. Barclays cut their price target on shares of FTAI Aviation from $350.00 to $310.00 and set an "overweight" rating for the company in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft set a $290.00 price objective on FTAI Aviation in a report on Friday, July 31st. Weiss Ratings reiterated a "hold (c+)" rating on shares of FTAI Aviation in a research note on Friday, October 30th. Royal Bank Of Canada dropped their target price 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, Citizens Jmp started coverage on FTAI Aviation in a research report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $304.38.

FTAI Aviation Company Profile

FTAI Aviation Ltd. is an aviation-focused company that owns, acquires, leases and sells commercial aircraft engines, aircraft and related aviation assets. Its portfolio primarily supports the global narrowbody aircraft market, with a particular focus on widely used engine platforms such as the CFM56 and V2500.

The company provides engine leasing solutions to airlines, aircraft leasing companies and other aviation customers. It also supplies aviation parts and materials and offers maintenance, repair and overhaul-related services.

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