Whittier Trust Co. Sells 1,549 Shares of FTAI Aviation Ltd. $FTAI

Whittier Trust Co. trimmed its position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,252 shares of the financial services provider’s stock after selling 1,549 shares during the quarter. Whittier Trust Co.’s holdings in FTAI Aviation were worth $1,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. bought a new stake in FTAI Aviation in the 2nd quarter valued at $348,000. Cannon Global Investment Management LLC lifted its position in FTAI Aviation by 116.7% in the 2nd quarter. Cannon Global Investment Management LLC now owns 6,500 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 3,500 shares in the last quarter. Praxis Investment Management Inc. lifted its position in FTAI Aviation by 45.6% in the 2nd quarter. Praxis Investment Management Inc. now owns 4,090 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 1,280 shares in the last quarter. WCM Investment Management LLC lifted its position in FTAI Aviation by 6.9% in the 2nd quarter. WCM Investment Management LLC now owns 258,801 shares of the financial services provider’s stock valued at $30,694,000 after acquiring an additional 16,718 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in FTAI Aviation by 948.8% in the 2nd quarter. Harbour Investments Inc. now owns 9,733 shares of the financial services provider’s stock valued at $1,120,000 after acquiring an additional 8,805 shares in the last quarter. 88.96% of the stock is owned by institutional investors.

FTAI Aviation Price Performance

Shares of NASDAQ:FTAI opened at $172.16 on Thursday. The company’s 50-day moving average price is $163.73 and its two-hundred day moving average price is $132.08. FTAI Aviation Ltd. has a one year low of $75.06 and a one year high of $184.44. The stock has a market capitalization of $17.66 billion, a PE ratio of 42.61 and a beta of 1.70.

FTAI Aviation (NASDAQ:FTAI) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.33 by $0.24. FTAI Aviation had a net margin of 21.31% and a return on equity of 465.13%. The firm had revenue of $676.24 million for the quarter, compared to analysts’ expectations of $754.75 million. During the same period in the previous year, the firm posted ($2.26) EPS. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, analysts anticipate that FTAI Aviation Ltd. will post 2.2 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. FTAI Aviation’s dividend payout ratio is presently 29.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FTAI Aviation in a research report on Wednesday, October 8th. Wall Street Zen raised shares of FTAI Aviation from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Citigroup reaffirmed a “buy” rating on shares of FTAI Aviation in a research report on Thursday, July 10th. Jones Trading assumed coverage on shares of FTAI Aviation in a research report on Friday, October 10th. They issued a “buy” rating and a $306.00 price objective on the stock. Finally, JMP Securities boosted their price objective on shares of FTAI Aviation from $180.00 to $205.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, FTAI Aviation currently has a consensus rating of “Buy” and an average target price of $205.00.

FTAI Aviation Company Profile

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.