VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in FTAI Aviation Ltd. $FTAI

Key Points

• Virginia Retirement Systems purchased 38,547 shares of FTAI Aviation during the second quarter, valued at approximately $10.4 million. Institutional investors and hedge funds 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 fell short of analysts’ $1.32 estimate. Company President David Moreno separately bought 2,475 shares worth about $498,000.
• The company paid a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $320.11.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,547 shares of the financial services provider's stock, valued at approximately $10,428,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. lifted its holdings in shares of FTAI Aviation by 122.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 107 shares of the financial services provider's stock valued at $26,000 after buying an additional 59 shares during the period. Meeder Asset Management Inc. grew its holdings in FTAI Aviation by 142.2% during the first 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. Garton & Associates Financial Advisors LLC acquired a new stake in FTAI Aviation during the fourth quarter worth about $30,000. Ancora Advisors LLC purchased a new position in FTAI Aviation during the second quarter valued at approximately $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in FTAI Aviation during the second quarter valued at approximately $37,000. 88.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, President David Moreno bought 2,475 shares of the business's stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $201.27 per share, with a total value of $498,143.25. Following the completion of the purchase, the president directly owned 199,490 shares of the company's stock, valued at approximately $40,151,352.30. This trade represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.35% of the stock is currently owned by company insiders.

FTAI Aviation Stock Up 0.2%

Shares of FTAI opened at $196.69 on Wednesday. The firm has a market cap of $20.20 billion, a P/E ratio of 42.76, a PEG ratio of 0.98 and a beta of 1.51. FTAI Aviation Ltd. has a 12 month low of $149.50 and a 12 month high of $323.51. The stock's 50 day moving average is $212.93 and its two-hundred day moving average is $240.51. The company has a current ratio of 5.28, a quick ratio of 2.07 and a debt-to-equity ratio of 8.55.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.19). FTAI Aviation had a return on equity of 139.59% and a net margin of 15.94%.The business had revenue of $953.09 million for the quarter. During the same period last year, the firm posted $1.57 earnings per share. FTAI Aviation's revenue for the quarter was up 40.9% on a year-over-year basis. Analysts predict that FTAI Aviation Ltd. will post 5.48 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 12th. FTAI Aviation's dividend payout ratio (DPR) is presently 43.48%.

Analyst Upgrades and Downgrades

FTAI has been the topic of several recent research reports. BTIG Research lowered their price objective on FTAI Aviation from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings lowered shares of FTAI Aviation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Citizens Jmp began coverage on shares of FTAI Aviation in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 target price for the company. Morgan Stanley increased their price target on shares of FTAI Aviation from $319.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, August 21st. Finally, Zacks Research lowered shares of FTAI Aviation from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $320.11.

FTAI Aviation 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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