Westfield Capital Management Co. LP Sells 596,253 Shares of FTAI Aviation Ltd. (NASDAQ:FTAI)

Key Points

• Westfield Capital Management Co. LP reduced its stake in FTAI Aviation Ltd. by 24.0%, selling 596,253 shares in the first quarter, leaving it with 1,892,451 shares, which is 1.0% of its portfolio.
• FTAI Aviation recently announced a quarterly dividend of $0.30 per share, reflecting an annualized dividend of $1.20 with a yield of 0.9%.
• The stock has received positive ratings from analysts, with an average rating of "Buy" and an average target price of $174.33.

Westfield Capital Management Co. LP lessened its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 24.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,892,451 shares of the financial services provider's stock after selling 596,253 shares during the quarter. FTAI Aviation comprises 1.0% of Westfield Capital Management Co. LP's portfolio, making the stock its 18th biggest holding. Westfield Capital Management Co. LP owned 1.85% of FTAI Aviation worth $210,119,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in FTAI Aviation by 3.5% during the 1st quarter. Amalgamated Bank now owns 3,518 shares of the financial services provider's stock valued at $391,000 after buying an additional 120 shares in the last quarter. Scotia Capital Inc. grew its holdings in FTAI Aviation by 0.5% during the 1st quarter. Scotia Capital Inc. now owns 25,428 shares of the financial services provider's stock valued at $2,823,000 after buying an additional 122 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of FTAI Aviation by 6.3% in the 1st quarter. AE Wealth Management LLC now owns 2,430 shares of the financial services provider's stock worth $270,000 after purchasing an additional 145 shares during the period. Virtus Fund Advisers LLC purchased a new position in shares of FTAI Aviation in the 4th quarter worth approximately $26,000. Finally, Versant Capital Management Inc boosted its holdings in shares of 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 purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 88.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup reiterated a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. Citizens Jmp raised FTAI Aviation to a "strong-buy" rating in a research report on Thursday, May 8th. Barclays decreased their target price on FTAI Aviation from $180.00 to $150.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on FTAI Aviation from $168.00 to $138.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Stifel Nicolaus raised FTAI Aviation from a "hold" rating to a "buy" rating and set a $123.00 target price for the company in a research report on Friday, May 2nd. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $174.33.

FTAI Aviation Trading Down 0.2%

FTAI opened at $137.32 on Monday. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 33.99 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. The stock has a fifty day moving average price of $120.00 and a 200-day moving average price of $112.40.

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 return on equity of 601.23% and a net margin of 21.31%. The company had revenue of $676.24 million for the quarter, compared to analyst estimates of $754.75 million. During the same period in the prior year, the company posted ($2.26) EPS. The firm's quarterly revenue was up 52.4% compared to the same quarter last year. On average, equities research analysts forecast that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, August 12th. FTAI Aviation's dividend payout ratio is currently 29.70%.

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.

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