Washington State Investment Board Sells 129,858 Shares of FTAI Aviation Ltd. $FTAI

Washington State Investment Board decreased its holdings in FTAI Aviation Ltd. (NASDAQ:FTAI) by 9.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,298,288 shares of the financial services provider’s stock after selling 129,858 shares during the quarter. FTAI Aviation accounts for 82.5% of Washington State Investment Board’s holdings, making the stock its largest position. Washington State Investment Board’s holdings in FTAI Aviation were worth $255,568,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FTAI. AQR Capital Management LLC acquired a new position in FTAI Aviation in the first quarter worth approximately $242,000. Cetera Investment Advisers grew its position in FTAI Aviation by 73.3% in the second quarter. Cetera Investment Advisers now owns 5,597 shares of the financial services provider’s stock worth $644,000 after buying an additional 2,368 shares during the last quarter. Invesco Ltd. grew its position in FTAI Aviation by 23.8% in the second quarter. Invesco Ltd. now owns 417,375 shares of the financial services provider’s stock worth $48,015,000 after buying an additional 80,341 shares during the last quarter. Amundi grew its position in FTAI Aviation by 16,560.0% in the second quarter. Amundi now owns 2,499 shares of the financial services provider’s stock worth $283,000 after buying an additional 2,484 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in FTAI Aviation during the 2nd quarter worth approximately $2,736,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citizens Jmp lifted their price objective on shares of FTAI Aviation from $230.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 29th. Zacks Research cut shares of FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of FTAI Aviation from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Morgan Stanley reiterated an “overweight” rating and set a $319.00 price objective on shares of FTAI Aviation in a research report on Friday, May 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $400.00 price objective on shares of FTAI Aviation in a research report on Sunday, May 3rd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.88.

Insider Activity

In other FTAI Aviation news, Director Martin Tuchman sold 67,500 shares of FTAI Aviation stock in a transaction on Monday, May 4th. The shares were sold at an average price of $241.99, for a total transaction of $16,334,325.00. Following the completion of the sale, the director owned 210,491 shares of the company’s stock, valued at $50,936,717.09. This trade represents a 24.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 254,260 shares of company stock worth $61,534,703. Company insiders own 1.35% of the company’s stock.

FTAI Aviation Stock Performance

NASDAQ FTAI opened at $252.13 on Tuesday. FTAI Aviation Ltd. has a twelve month low of $108.47 and a twelve month high of $323.51. 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 has a market cap of $25.86 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 1.02 and a beta of 1.49. The firm’s 50 day moving average price is $246.50 and its two-hundred day moving average price is $232.85.

FTAI Aviation (NASDAQ:FTAI) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm’s revenue for the quarter was up 65.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. Equities analysts anticipate that FTAI Aviation Ltd. will post 6.77 EPS for the current year.

FTAI Aviation Announces Dividend

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

About FTAI Aviation

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.