Norges Bank Takes $262.39 Million Position in FTAI Aviation Ltd. $FTAI

Norges Bank purchased a new stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,332,960 shares of the financial services provider’s stock, valued at approximately $262,393,000. Norges Bank owned 1.30% of FTAI Aviation at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Horizon Corp increased its stake in shares of FTAI Aviation by 131.9% during the 4th quarter. First Horizon Corp now owns 320 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 182 shares in the last quarter. Covestor Ltd raised its position in shares of FTAI Aviation by 338.6% during the 4th quarter. Covestor Ltd now owns 386 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 298 shares during the last quarter. Rossby Financial LCC raised its position in shares of FTAI Aviation by 13.6% during the 3rd quarter. Rossby Financial LCC now owns 543 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 65 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of FTAI Aviation by 88.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 485 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 227 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of FTAI Aviation by 11.0% during the 3rd quarter. Assetmark Inc. now owns 708 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 70 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FTAI. Jefferies Financial Group restated a “buy” rating and set a $400.00 price objective on shares of FTAI Aviation in a research report on Sunday, May 3rd. Barclays lifted their price objective on FTAI Aviation from $260.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Zacks Research downgraded FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Morgan Stanley restated an “overweight” rating and set a $319.00 price objective on shares of FTAI Aviation in a research report on Friday, May 8th. Finally, BTIG Research lifted their price objective on FTAI Aviation from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.88.

Insider Activity at FTAI Aviation

In other FTAI Aviation news, Director Judith A. Hannaway sold 255 shares of FTAI Aviation stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total value of $64,741.95. Following the completion of the sale, the director directly owned 3,012 shares of the company’s stock, valued at approximately $764,716.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Tuchman sold 67,500 shares of FTAI Aviation stock in a transaction that occurred on 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 sale, the director directly owned 210,491 shares of the company’s stock, valued at $50,936,717.09. The trade was a 24.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 254,515 shares of company stock valued at $61,599,445 over the last ninety days. 1.35% of the stock is owned by corporate insiders.

FTAI Aviation Stock Down 0.8%

FTAI stock opened at $245.86 on Wednesday. The stock has a market capitalization of $25.22 billion, a P/E ratio of 48.78, a PEG ratio of 1.00 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 one year low of $108.47 and a one year high of $323.51. The company has a 50 day moving average price of $248.48 and a two-hundred day moving average price of $236.13.

FTAI Aviation (NASDAQ:FTAI) last released its 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 firm had revenue of $830.70 million during the quarter. FTAI Aviation had a return on equity of 181.43% and a net margin of 18.92%.The business’s revenue for the quarter was up 65.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, sell-side analysts expect that FTAI Aviation Ltd. will post 6.77 EPS for the current year.

FTAI Aviation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. FTAI Aviation’s 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.