FTAI Aviation Ltd. (NASDAQ:FTAI – Get Free Report) shot up 7.8% during mid-day trading on Wednesday. The stock traded as high as $171.44 and last traded at $170.29. 468,603 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,519,375 shares. The stock had previously closed at $157.95.
Analysts Set New Price Targets
A number of analysts have commented on FTAI shares. Deutsche Bank Aktiengesellschaft set a $290.00 price target on FTAI Aviation in a research report on Friday, July 31st. Royal Bank Of Canada cut their price objective on FTAI Aviation from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, July 27th. Citizens Jmp began coverage on FTAI Aviation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective for the company. Weiss Ratings cut FTAI Aviation from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Finally, Barclays decreased their target price on FTAI Aviation from $350.00 to $310.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.62.
Read Our Latest Analysis on FTAI
FTAI Aviation Price Performance
The firm’s fifty day moving average price is $186.21 and its 200 day moving average price is $222.03. The firm has a market capitalization of $17.11 billion, a PE ratio of 36.22, a P/E/G ratio of 0.81 and a beta of 1.51. The company has a current ratio of 5.28, a quick ratio of 2.07 and a debt-to-equity ratio of 8.55.
FTAI Aviation (NASDAQ:FTAI – Get Free Report) last released its quarterly earnings data 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 return on equity of 139.59% and a net margin of 15.94%. The business had revenue of $953.09 million during the quarter. During the same quarter in the prior year, the firm earned $1.57 EPS. FTAI Aviation’s revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities analysts forecast that FTAI Aviation Ltd. will post 5.48 earnings per share for the current year.
FTAI Aviation Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Wednesday, August 12th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 12th. FTAI Aviation’s dividend payout ratio is presently 43.48%.
Insiders Place Their Bets
In related news, President David Moreno acquired 2,475 shares of FTAI Aviation stock in a transaction on Friday, July 31st. The stock was acquired 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 of the company’s stock, valued at approximately $40,151,352.30. This represents a 1.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.35% of the company’s stock.
Hedge Funds Weigh In On FTAI Aviation
Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in FTAI Aviation during the first quarter valued at approximately $52,160,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in FTAI Aviation in the first quarter valued at approximately $46,517,000. National Pension Service lifted its holdings in FTAI Aviation by 3,066.6% in the second quarter. National Pension Service now owns 185,245 shares of the financial services provider’s stock valued at $50,114,000 after acquiring an additional 179,395 shares during the period. Weybosset Research & Management LLC purchased a new stake in FTAI Aviation in the 3rd quarter worth approximately $20,086,000. Finally, Generate Investment Management Ltd purchased a new stake in FTAI Aviation in the 3rd quarter worth approximately $16,703,000. Institutional investors and hedge funds own 88.96% of the company’s stock.
About FTAI Aviation
FTAI Aviation Ltd. is an aviation-focused company that owns, acquires, leases and sells commercial aircraft engines, aircraft and related aviation assets. Its portfolio primarily supports the global narrowbody aircraft market, with a particular focus on widely used engine platforms such as the CFM56 and V2500.
The company provides engine leasing solutions to airlines, aircraft leasing companies and other aviation customers. It also supplies aviation parts and materials and offers maintenance, repair and overhaul-related services.
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