Pictet Asset Management Holding SA raised its stake in FTAI Aviation Ltd. (NASDAQ:FTAI – Free Report) by 220.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,267 shares of the financial services provider’s stock after purchasing an additional 33,878 shares during the period. Pictet Asset Management Holding SA’s holdings in FTAI Aviation were worth $12,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the company. Capital International Investors grew its position in shares of FTAI Aviation by 0.7% in the 3rd quarter. Capital International Investors now owns 13,895,852 shares of the financial services provider’s stock worth $2,318,615,000 after buying an additional 94,383 shares during the last quarter. Capital World Investors lifted its position in FTAI Aviation by 41.1% during the fourth quarter. Capital World Investors now owns 8,916,830 shares of the financial services provider’s stock valued at $1,755,290,000 after acquiring an additional 2,596,265 shares during the last quarter. Rubric Capital Management LP lifted its position in FTAI Aviation by 10.1% during the fourth quarter. Rubric Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock valued at $728,345,000 after acquiring an additional 339,447 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in FTAI Aviation by 10.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,350,625 shares of the financial services provider’s stock valued at $462,721,000 after acquiring an additional 220,384 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in FTAI Aviation by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,004,963 shares of the financial services provider’s stock worth $394,757,000 after purchasing an additional 71,271 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on FTAI. BTIG Research raised their price objective on FTAI Aviation from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Jefferies Financial Group restated a “buy” rating and set a $400.00 price target on shares of FTAI Aviation in a research note on Sunday, May 3rd. Zacks Research lowered shares of FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $319.00 target price on shares of FTAI Aviation in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of FTAI Aviation from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.88.
Insider Buying and Selling at FTAI Aviation
In other FTAI Aviation news, Director Martin Tuchman sold 143,584 shares of FTAI Aviation stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $242.44, for a total transaction of $34,810,504.96. Following the completion of the transaction, the director owned 236,302 shares in the company, valued at approximately $57,289,056.88. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Judith A. Hannaway sold 255 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total value of $64,741.95. Following the completion of the transaction, the director directly owned 3,012 shares of the company’s stock, valued at approximately $764,716.68. This trade represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 254,515 shares of company stock valued at $61,599,445. 1.35% of the stock is currently owned by corporate insiders.
FTAI Aviation Stock Down 5.3%
Shares of FTAI stock opened at $248.06 on Friday. FTAI Aviation Ltd. has a fifty-two week low of $108.47 and a fifty-two week high of $323.51. The firm has a market capitalization of $25.45 billion, a PE ratio of 49.22, a P/E/G ratio of 1.05 and a beta of 1.46. The company has a debt-to-equity ratio of 8.00, a quick ratio of 2.48 and a current ratio of 5.24. The stock’s 50-day simple moving average is $251.98 and its 200-day simple moving average is $250.46.
FTAI Aviation (NASDAQ:FTAI – Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.32). FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The firm had revenue of $830.70 million during the quarter. During the same quarter in the prior year, the company posted $0.87 EPS. The firm’s revenue was up 65.4% compared to the same quarter last year. Equities analysts expect that FTAI Aviation Ltd. will post 6.77 earnings per share for the current year.
FTAI Aviation Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. FTAI Aviation’s dividend payout ratio (DPR) is 31.75%.
FTAI Aviation Company Profile
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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