PNC Financial Services Group Inc. Sells 685 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

PNC Financial Services Group Inc. cut its stake in shares of FTAI Aviation Ltd. (NYSE:FTAI) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,930 shares of the financial services provider’s stock after selling 685 shares during the period. PNC Financial Services Group Inc.’s holdings in FTAI Aviation were worth $1,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. increased its position in FTAI Aviation by 1,923.5% during the second quarter. American Century Companies Inc. now owns 972,806 shares of the financial services provider’s stock valued at $100,423,000 after acquiring an additional 924,730 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of FTAI Aviation by 1,488.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 867,963 shares of the financial services provider’s stock valued at $58,415,000 after purchasing an additional 813,311 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of FTAI Aviation by 14,553.9% during the 3rd quarter. International Assets Investment Management LLC now owns 564,028 shares of the financial services provider’s stock valued at $74,959,000 after purchasing an additional 560,179 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of FTAI Aviation by 229.9% in the third quarter. Victory Capital Management Inc. now owns 380,207 shares of the financial services provider’s stock worth $50,530,000 after buying an additional 264,971 shares during the last quarter. Finally, Vantage Investment Partners LLC purchased a new position in shares of FTAI Aviation in the third quarter worth approximately $32,769,000. 88.96% of the stock is owned by institutional investors.

FTAI Aviation Stock Performance

Shares of NYSE:FTAI opened at $165.32 on Thursday. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of -1,671.33 and a beta of 2.04. The firm has a fifty day moving average price of $146.10 and a 200 day moving average price of $117.15. FTAI Aviation Ltd. has a fifty-two week low of $40.29 and a fifty-two week high of $177.18.

FTAI Aviation (NYSE:FTAI) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.01). The company had revenue of $465.80 million for the quarter, compared to the consensus estimate of $422.45 million. FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. The firm’s revenue for the quarter was up 60.0% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. As a group, research analysts predict that FTAI Aviation Ltd. will post 2.21 earnings per share for the current year.

FTAI Aviation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, November 14th. FTAI Aviation’s payout ratio is presently -1,199.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BTIG Research initiated coverage on FTAI Aviation in a research note on Monday, August 26th. They issued a “buy” rating and a $140.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price objective on shares of FTAI Aviation in a research report on Friday, November 1st. Compass Point increased their target price on shares of FTAI Aviation from $118.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Morgan Stanley restated an “underperform” rating on shares of FTAI Aviation in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of FTAI Aviation to a “sell” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.09.

About FTAI Aviation

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.