Peregrine Capital Management LLC lowered its stake in FTAI Aviation Ltd. (NASDAQ:FTAI – Free Report) by 38.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,762 shares of the financial services provider’s stock after selling 25,973 shares during the quarter. Peregrine Capital Management LLC’s holdings in FTAI Aviation were worth $10,232,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of FTAI Aviation by 0.7% during the third quarter. Capital International Investors now owns 13,895,852 shares of the financial services provider’s stock worth $2,318,615,000 after acquiring an additional 94,383 shares during the period. Capital World Investors boosted its stake 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 purchasing an additional 2,596,265 shares during the period. Rubric Capital Management LP increased its holdings in FTAI Aviation by 10.1% during the 4th quarter. Rubric Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock worth $728,345,000 after purchasing an additional 339,447 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of FTAI Aviation by 10.3% in the 4th 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 purchasing an additional 220,384 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of FTAI Aviation by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 2,004,963 shares of the financial services provider’s stock valued at $394,757,000 after purchasing an additional 71,271 shares during the period. Institutional investors and hedge funds own 88.96% of the company’s stock.
Insider Activity at FTAI Aviation
In related news, Director Martin Tuchman sold 67,500 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $241.99, for a total value of $16,334,325.00. Following the completion of the transaction, the director directly owned 210,491 shares of the company’s stock, valued at approximately $50,936,717.09. This trade represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Hannaway sold 255 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total transaction of $64,741.95. Following the sale, the director directly owned 3,012 shares in the company, valued at $764,716.68. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 254,515 shares of company stock valued at $61,599,445. 1.35% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Read Our Latest Research Report on FTAI
FTAI Aviation Price Performance
NASDAQ:FTAI opened at $270.53 on Wednesday. FTAI Aviation Ltd. has a 52-week low of $108.47 and a 52-week high of $323.51. The company has a market cap of $27.75 billion, a P/E ratio of 53.68, a P/E/G ratio of 1.06 and a beta of 1.47. 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 $251.66 and its 200 day simple moving average is $249.40.
FTAI Aviation (NASDAQ:FTAI – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.32). The company had revenue of $830.70 million for the quarter. FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The business’s revenue was up 65.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, sell-side analysts forecast that FTAI Aviation Ltd. will post 6.77 EPS for the current fiscal year.
FTAI Aviation Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a $0.45 dividend. 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 is presently 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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