Washington State Investment Board Cuts Stake in FTAI Aviation Ltd. $FTAI

Key Points

• Washington State Investment Board reduced its FTAI Aviation stake by 9.1% in the fourth quarter, though the stock remains its largest holding at about 82.5% of the portfolio.
• FTAI Aviation reported quarterly EPS of $1.29, missing analyst expectations, even as revenue jumped 65.4% year over year to $830.7 million.
• The company also declared a quarterly dividend of $0.45 per share, while Wall Street remains broadly bullish with a consensus rating of Moderate Buy and an average target price of $326.88.

Washington State Investment Board lessened its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,298,288 shares of the financial services provider's stock after selling 129,858 shares during the period. FTAI Aviation accounts for about 82.5% of Washington State Investment Board's investment portfolio, making the stock its biggest holding. Washington State Investment Board owned 1.27% of FTAI Aviation worth $255,568,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Themes Management Co LLC bought a new stake in shares of FTAI Aviation during the fourth quarter valued at approximately $587,000. Clearstead Trust LLC raised its holdings in shares of FTAI Aviation by 57.7% during the fourth quarter. Clearstead Trust LLC now owns 4,418 shares of the financial services provider's stock valued at $870,000 after buying an additional 1,616 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of FTAI Aviation by 81.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,895 shares of the financial services provider's stock valued at $373,000 after buying an additional 849 shares during the last quarter. SLT Holdings LLC raised its holdings in shares of FTAI Aviation by 6.7% during the fourth quarter. SLT Holdings LLC now owns 2,375 shares of the financial services provider's stock valued at $468,000 after buying an additional 150 shares during the last quarter. Finally, Legato Capital Management LLC raised its holdings in shares of FTAI Aviation by 41.3% during the fourth quarter. Legato Capital Management LLC now owns 10,960 shares of the financial services provider's stock valued at $2,157,000 after buying an additional 3,203 shares during the last quarter. Institutional investors own 88.96% of the company's stock.

FTAI Aviation Price Performance

Shares of NASDAQ:FTAI opened at $252.13 on Tuesday. FTAI Aviation Ltd. has a 12 month low of $108.47 and a 12 month high of $323.51. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 1.02 and a beta of 1.49. The stock's 50 day moving average price is $246.50 and its 200 day moving average price is $232.85. The company has a debt-to-equity ratio of 8.00, a current ratio of 5.24 and a quick ratio of 2.48.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.32). FTAI Aviation had a return on equity of 181.43% and a net margin of 18.92%.The firm had revenue of $830.70 million for the quarter. During the same quarter last year, the firm posted $0.87 earnings per share. FTAI Aviation's quarterly revenue was up 65.4% compared to the same quarter last year. Equities research analysts anticipate that FTAI Aviation Ltd. will post 6.77 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th will be given a $0.45 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.80 annualized dividend and a yield of 0.7%. FTAI Aviation's payout ratio is 31.75%.

Wall Street Analysts Forecast Growth

FTAI has been the topic of a number of recent analyst reports. Barclays lifted their price target on FTAI Aviation from $260.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, February 27th. Weiss Ratings raised FTAI Aviation from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Jefferies Financial Group reissued a "buy" rating and set a $400.00 target price on shares of FTAI Aviation in a report on Sunday, May 3rd. Citizens Jmp boosted their target price on FTAI Aviation from $230.00 to $325.00 and gave the stock a "market outperform" rating in a report on Thursday, January 29th. Finally, BTIG Research boosted their target price on FTAI Aviation from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, FTAI Aviation presently has an average rating of "Moderate Buy" and a consensus target price of $326.88.

Insider Transactions at FTAI Aviation

In other FTAI Aviation news, Director Martin Tuchman sold 143,584 shares of FTAI Aviation stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $242.44, for a total value of $34,810,504.96. Following the transaction, the director owned 236,302 shares in the company, valued at approximately $57,289,056.88. The trade was a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 254,260 shares of company stock valued at $61,534,703 in the last quarter. Insiders own 1.35% of the company's stock.

About FTAI Aviation

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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