Fred Alger Management LLC Has $74.15 Million Stock Position in FTAI Aviation Ltd. $FTAI

Fred Alger Management LLC grew its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 376,693 shares of the financial services provider’s stock after purchasing an additional 49,441 shares during the quarter. Fred Alger Management LLC’s holdings in FTAI Aviation were worth $74,152,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FTAI. Greenline Wealth Management LLC acquired a new position in shares of FTAI Aviation during the 4th quarter worth approximately $50,000. First Horizon Corp increased its position 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 during the last quarter. Covestor Ltd increased 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 increased 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. Finally, Mirae Asset Global Investments Co. Ltd. increased 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. Institutional investors and hedge funds own 88.96% of the company’s stock.

FTAI Aviation Price Performance

Shares of FTAI opened at $268.52 on Wednesday. The firm has a market capitalization of $27.55 billion, a PE ratio of 53.28, a PEG ratio of 1.06 and a beta of 1.47. The company’s 50-day moving average is $249.05 and its 200-day moving average is $242.69. FTAI Aviation Ltd. has a fifty-two week low of $108.47 and a fifty-two week high of $323.51. The company has a debt-to-equity ratio of 8.00, a current ratio of 5.24 and a quick ratio of 2.48.

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

FTAI Aviation Announces Dividend

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

Insiders Place Their Bets

In other FTAI Aviation news, Director Martin Tuchman sold 143,584 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $242.44, for a total value of $34,810,504.96. Following the transaction, the director directly owned 236,302 shares of the company’s stock, valued at $57,289,056.88. This represents a 37.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Judith A. Hannaway sold 255 shares of the company’s stock in a transaction 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 transaction, the director directly owned 3,012 shares in the company, valued at approximately $764,716.68. This represents a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 254,515 shares of company stock worth $61,599,445. Insiders own 1.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $400.00 target price on shares of FTAI Aviation in a report on Sunday, May 3rd. Weiss Ratings lowered FTAI Aviation from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Zacks Research lowered FTAI Aviation from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. BTIG Research upped their price objective on shares of FTAI Aviation from $335.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 13th. Finally, Barclays increased their price objective on shares of FTAI Aviation from $260.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, FTAI Aviation presently has an average rating of “Moderate Buy” and an average price target of $326.88.

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.