Legal & General Group Plc Trims Position in FTAI Aviation Ltd. $FTAI

Legal & General Group Plc lessened its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 9.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 107,453 shares of the financial services provider’s stock after selling 10,639 shares during the period. Legal & General Group Plc’s holdings in FTAI Aviation were worth $21,152,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FTAI. Capital World Investors increased its position in FTAI Aviation by 17.3% during the 3rd quarter. Capital World Investors now owns 6,320,565 shares of the financial services provider’s stock valued at $1,054,649,000 after purchasing an additional 933,944 shares during the period. Northern Right Capital Management L.P. lifted its position in shares of FTAI Aviation by 884.1% in the 2nd quarter. Northern Right Capital Management L.P. now owns 885,675 shares of the financial services provider’s stock worth $101,888,000 after purchasing an additional 795,675 shares during the period. Rubric Capital Management LP lifted its position in shares of FTAI Aviation by 28.3% in the 2nd quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider’s stock worth $390,455,000 after purchasing an additional 749,080 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of FTAI Aviation by 396.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 831,414 shares of the financial services provider’s stock valued at $138,730,000 after purchasing an additional 664,037 shares in the last quarter. Finally, Oaktree Capital Management LP purchased a new position in shares of FTAI Aviation during the third quarter valued at about $97,642,000. Institutional investors own 88.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $319.00 price target on shares of FTAI Aviation in a research note on Friday, May 8th. Weiss Ratings downgraded FTAI Aviation from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. BTIG Research increased their target price 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 issued a $400.00 target price on shares of FTAI Aviation in a research note on Sunday, May 3rd. Finally, Barclays lifted their price target on FTAI Aviation from $260.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, FTAI Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $326.88.

Insider Buying and Selling at FTAI Aviation

In other news, Director Judith A. Hannaway sold 255 shares of FTAI Aviation stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total value of $64,741.95. Following the completion of the transaction, the director owned 3,012 shares of the company’s stock, valued at $764,716.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Tuchman sold 67,500 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $241.99, for a total transaction of $16,334,325.00. Following the completion of the transaction, the director owned 210,491 shares in the company, valued at approximately $50,936,717.09. The trade was a 24.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 254,515 shares of company stock worth $61,599,445 over the last three months. Corporate insiders own 1.35% of the company’s stock.

FTAI Aviation Price Performance

Shares of FTAI opened at $260.34 on Monday. The stock has a market cap of $26.71 billion, a PE ratio of 51.65, a price-to-earnings-growth ratio of 1.05 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. FTAI Aviation Ltd. has a fifty-two week low of $108.47 and a fifty-two week high of $323.51. The firm’s 50-day simple moving average is $248.32 and its two-hundred day simple moving average is $235.48.

FTAI Aviation (NASDAQ:FTAI) last released its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.32). FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The business had revenue of $830.70 million for the quarter. During the same period last year, the firm earned $0.87 EPS. The business’s revenue was up 65.4% on a year-over-year basis. Analysts anticipate that FTAI Aviation Ltd. will post 6.77 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. FTAI Aviation’s payout ratio is presently 31.75%.

FTAI Aviation 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.