Fred Alger Management LLC Grows Stake in FTAI Aviation Ltd. (NYSE:FTAI)

Fred Alger Management LLC grew its position in shares of FTAI Aviation Ltd. (NYSE:FTAI - Free Report) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,604 shares of the financial services provider's stock after purchasing an additional 42,019 shares during the quarter. Fred Alger Management LLC owned approximately 0.29% of FTAI Aviation worth $42,579,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of FTAI Aviation by 73.5% in the third quarter. Barclays PLC now owns 214,610 shares of the financial services provider's stock worth $28,520,000 after acquiring an additional 90,905 shares during the period. Franklin Resources Inc. increased its holdings in FTAI Aviation by 102.8% in the third quarter. Franklin Resources Inc. now owns 411,476 shares of the financial services provider's stock worth $54,685,000 after purchasing an additional 208,613 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of FTAI Aviation during the fourth quarter valued at approximately $203,000. Diversified Trust Co increased its holdings in shares of FTAI Aviation by 79.4% during the fourth quarter. Diversified Trust Co now owns 23,463 shares of the financial services provider's stock valued at $3,380,000 after acquiring an additional 10,383 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of FTAI Aviation by 148.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 116,059 shares of the financial services provider's stock valued at $16,717,000 after acquiring an additional 69,260 shares in the last quarter. 88.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JMP Securities decreased their price objective on FTAI Aviation from $190.00 to $180.00 and set a "market outperform" rating for the company in a report on Thursday, May 8th. StockNews.com upgraded FTAI Aviation to a "sell" rating in a report on Wednesday, April 23rd. Barclays decreased their price target on FTAI Aviation from $180.00 to $150.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Morgan Stanley cut their price objective on FTAI Aviation from $168.00 to $138.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Royal Bank of Canada cut their price objective on FTAI Aviation from $140.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.83.

Insiders Place Their Bets

In related news, COO David Moreno bought 6,580 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $94.85 per share, for a total transaction of $624,113.00. Following the acquisition, the chief operating officer now directly owns 231,623 shares of the company's stock, valued at $21,969,441.55. The trade was a 2.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stacy Kuperus bought 1,087 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $92.90 per share, with a total value of $100,982.30. Following the completion of the acquisition, the insider now directly owns 88,423 shares in the company, valued at $8,214,496.70. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 10,667 shares of company stock worth $1,008,715 in the last ninety days. 1.30% of the stock is currently owned by insiders.

FTAI Aviation Price Performance

Shares of NYSE FTAI traded up $4.77 during trading on Tuesday, reaching $117.73. 1,227,130 shares of the stock traded hands, compared to its average volume of 1,771,907. FTAI Aviation Ltd. has a 52-week low of $75.06 and a 52-week high of $181.64. The company has a 50-day moving average of $103.06 and a 200-day moving average of $124.97. The stock has a market capitalization of $12.07 billion, a P/E ratio of -1,177.18 and a beta of 1.64.

FTAI Aviation (NYSE:FTAI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.08). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. During the same period in the prior year, the business earned $0.31 EPS. The business's revenue was up 53.7% on a year-over-year basis. Analysts expect that FTAI Aviation Ltd. will post 2.2 earnings per share for the current fiscal year.

FTAI Aviation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.02%. FTAI Aviation's dividend payout ratio is currently 571.43%.

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.