Zimmer Partners LP Buys Shares of 90,000 FTAI Aviation Ltd. $FTAI

Key Points

• Zimmer Partners LP acquired 90,000 shares of FTAI Aviation Ltd. valued at approximately $9.99 million, representing about 0.09% of the company's stock.
• FTAI Aviation recently reported earnings of $1.57 per share, surpassing analysts' estimates of $1.33, with a revenue of $676.24 million for the quarter.
• The company declared a quarterly dividend of $0.30 per share, translating to an annualized yield of 0.7%, with a payout ratio of 29.70%.

Zimmer Partners LP bought a new stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 90,000 shares of the financial services provider's stock, valued at approximately $9,993,000. Zimmer Partners LP owned approximately 0.09% of FTAI Aviation at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in shares of FTAI Aviation by 28.4% during the 1st quarter. Empowered Funds LLC now owns 52,347 shares of the financial services provider's stock valued at $5,812,000 after purchasing an additional 11,577 shares in the last quarter. Fred Alger Management LLC lifted its position in FTAI Aviation by 85.0% during the 1st quarter. Fred Alger Management LLC now owns 546,765 shares of the financial services provider's stock valued at $60,707,000 after acquiring an additional 251,161 shares during the period. Redwood Investments LLC lifted its position in FTAI Aviation by 58.9% during the 1st quarter. Redwood Investments LLC now owns 70,082 shares of the financial services provider's stock valued at $7,781,000 after acquiring an additional 25,967 shares during the period. Goldman Sachs Group Inc. lifted its position in FTAI Aviation by 23.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 832,984 shares of the financial services provider's stock valued at $92,486,000 after acquiring an additional 156,019 shares during the period. Finally, Two Seas Capital LP purchased a new position in FTAI Aviation during the 1st quarter valued at about $12,842,000. Institutional investors own 88.96% of the company's stock.

Analysts Set New Price Targets

FTAI has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of FTAI Aviation from $138.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Zacks Research raised shares of FTAI Aviation from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada lifted their price target on shares of FTAI Aviation from $130.00 to $160.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. JMP Securities lifted their price target on shares of FTAI Aviation from $180.00 to $205.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of FTAI Aviation from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $182.83.

FTAI Aviation Stock Performance

Shares of FTAI traded up $1.81 during mid-day trading on Friday, hitting $171.66. 1,015,616 shares of the company traded hands, compared to its average volume of 2,179,669. The stock has a 50-day moving average price of $135.45 and a two-hundred day moving average price of $120.03. FTAI Aviation Ltd. has a 1 year low of $75.06 and a 1 year high of $181.64. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 42.49 and a beta of 1.65.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $754.75 million. During the same period in the previous year, the company earned ($2.26) earnings per share. The firm's quarterly revenue was up 52.4% on a year-over-year basis. On average, 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 was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. FTAI Aviation's dividend payout ratio is currently 29.70%.

FTAI Aviation Company Profile

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.