National Pension Service lifted its stake in FTAI Aviation Ltd. (NASDAQ:FTAI – Free Report) by 3,066.6% in the second quarter, Holdings Channel.com reports. The firm owned 185,245 shares of the financial services provider’s stock after acquiring an additional 179,395 shares during the quarter. National Pension Service’s holdings in FTAI Aviation were worth $50,114,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. California State Teachers Retirement System grew its position in FTAI Aviation by 33,634.6% during the second quarter. California State Teachers Retirement System now owns 40,055,754 shares of the financial services provider’s stock valued at $10,836,283,000 after purchasing an additional 39,937,016 shares in the last quarter. Capital World Investors lifted its position in FTAI Aviation by 41.1% in the 4th quarter. Capital World Investors now owns 8,916,830 shares of the financial services provider’s stock worth $1,755,290,000 after buying an additional 2,596,265 shares in the last quarter. Norges Bank acquired a new stake in shares of FTAI Aviation during the 4th quarter valued at $262,393,000. Northern Right Capital Management L.P. grew its holdings in shares of FTAI Aviation by 884.1% during the 2nd quarter. Northern Right Capital Management L.P. now owns 885,675 shares of the financial services provider’s stock valued at $101,888,000 after acquiring an additional 795,675 shares in the last quarter. Finally, Rubric Capital Management LP grew its holdings in shares of FTAI Aviation by 28.3% during the 2nd quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider’s stock valued at $390,455,000 after acquiring an additional 749,080 shares in the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at FTAI Aviation
In related news, President David Moreno purchased 2,475 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $201.27 per share, for a total transaction of $498,143.25. Following the purchase, the president owned 199,490 shares in the company, valued at $40,151,352.30. The trade was a 1.26% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.35% of the stock is owned by corporate insiders.
FTAI Aviation Stock Performance
FTAI Aviation (NASDAQ:FTAI – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.19). FTAI Aviation had a net margin of 15.94% and a return on equity of 139.59%. The business had revenue of $953.09 million for the quarter. During the same quarter in the prior year, the company earned $1.57 EPS. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. Equities analysts expect that FTAI Aviation Ltd. will post 5.48 EPS for the current fiscal year.
FTAI Aviation Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Wednesday, August 12th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. FTAI Aviation’s payout ratio is currently 43.48%.
Wall Street Analysts Forecast Growth
FTAI has been the topic of a number of research reports. Citizens Jmp assumed coverage on shares of FTAI Aviation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target on the stock. Morgan Stanley boosted their target price on FTAI Aviation from $319.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Zacks Research lowered FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $325.00 price target on shares of FTAI Aviation in a research note on Sunday, August 2nd. Finally, Royal Bank Of Canada reduced their price target on FTAI Aviation from $350.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $320.11.
Get Our Latest Stock Analysis on FTAI
About FTAI Aviation
FTAI Aviation Ltd. (NASDAQ: FTAI) is an aviation asset owner and lessor focused on commercial aircraft engines and related aviation equipment. The company primarily acquires, leases and manages aircraft engines, with a particular emphasis on CFM56 engines, which power many Airbus A320-family and Boeing 737 Next Generation aircraft.
In addition to engine leasing, FTAI Aviation owns and leases commercial aircraft and provides aviation aftermarket services. Its activities include engine disassembly, maintenance, repair and overhaul, as well as the sale of engine components and other aircraft parts.
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