Voya Investment Management LLC Sells 171,567 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Voya Investment Management LLC has decreased its holdings in FTAI Aviation Ltd. by 46.9%, resulting in ownership of 193,931 shares valued at approximately $21.5 million.
• FTAI Aviation reported a quarterly earnings per share (EPS) of $1.57, surpassing analysts' expectations, with significant revenue up by 52.4% compared to the same period last year.
• Several brokerages have recently adjusted their price targets for FTAI Aviation, with Morgan Stanley setting a new target at $175.00 and JMP Securities at $205.00, reflecting a generally positive outlook.

Voya Investment Management LLC lowered its position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,931 shares of the financial services provider's stock after selling 171,567 shares during the quarter. Voya Investment Management LLC owned 0.19% of FTAI Aviation worth $21,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of FTAI Aviation by 159.6% in the 1st quarter. Wellington Management Group LLP now owns 2,347,633 shares of the financial services provider's stock worth $260,658,000 after purchasing an additional 1,443,440 shares during the period. Empyrean Capital Partners LP purchased a new position in shares of FTAI Aviation during the 1st quarter valued at $61,546,000. Sessa Capital IM L.P. purchased a new position in shares of FTAI Aviation during the 1st quarter valued at $44,412,000. Appian Way Asset Management LP grew its position in shares of FTAI Aviation by 601.8% during the 1st quarter. Appian Way Asset Management LP now owns 450,780 shares of the financial services provider's stock valued at $50,050,000 after purchasing an additional 386,549 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of FTAI Aviation during the 1st quarter worth $41,789,000. Institutional investors own 88.96% of the company's stock.

FTAI Aviation Stock Performance

Shares of NASDAQ:FTAI traded up $0.72 during trading on Friday, reaching $178.89. 1,312,630 shares of the stock traded hands, compared to its average volume of 1,095,911. The stock has a 50-day moving average of $143.03 and a two-hundred day moving average of $121.99. FTAI Aviation Ltd. has a 52-week low of $75.06 and a 52-week high of $181.64. The stock has a market cap of $18.35 billion, a P/E ratio of 44.28 and a beta of 1.65.

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

FTAI Aviation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 12th. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. FTAI Aviation's dividend payout ratio is 29.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FTAI. JMP Securities lifted their price objective on shares of FTAI Aviation from $180.00 to $205.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. Zacks Research raised shares of FTAI Aviation from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. BTIG Research boosted their price target on shares of FTAI Aviation from $190.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Royal Bank Of Canada upped their price objective on shares of FTAI Aviation from $130.00 to $160.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price 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.