Corebridge Financial Inc. Decreases Stake in FTAI Aviation Ltd. (NYSE:FTAI)

Corebridge Financial Inc. reduced its stake in FTAI Aviation Ltd. (NYSE:FTAI - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,503 shares of the financial services provider's stock after selling 3,812 shares during the period. Corebridge Financial Inc.'s holdings in FTAI Aviation were worth $7,274,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new stake in FTAI Aviation in the third quarter worth about $26,000. Anchor Investment Management LLC bought a new stake in shares of FTAI Aviation during the 3rd quarter worth approximately $31,000. Private Trust Co. NA boosted its stake in shares of FTAI Aviation by 221.1% during the fourth quarter. Private Trust Co. NA now owns 244 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 168 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in FTAI Aviation in the 4th quarter valued at about $36,000. Finally, Blue Trust Inc. purchased a new stake in shares of FTAI Aviation in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 88.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FTAI shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $160.00 target price on shares of FTAI Aviation in a research report on Wednesday, January 22nd. StockNews.com upgraded FTAI Aviation to a "sell" rating in a report on Saturday, March 15th. Wolfe Research upgraded shares of FTAI Aviation from a "peer perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a report on Friday, January 10th. Barclays boosted their price target on shares of FTAI Aviation from $135.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $123.00 price objective (up from $100.00) on shares of FTAI Aviation in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $173.67.

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FTAI Aviation Trading Up 1.6 %

Shares of FTAI stock traded up $1.79 during trading hours on Wednesday, reaching $115.38. 239,492 shares of the company's stock were exchanged, compared to its average volume of 3,075,722. The company has a market cap of $11.83 billion, a price-to-earnings ratio of -1,154.42 and a beta of 1.78. FTAI Aviation Ltd. has a fifty-two week low of $66.22 and a fifty-two week high of $181.64. The stock's 50 day moving average is $112.20 and its 200-day moving average is $133.04.

FTAI Aviation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, March 14th. FTAI Aviation's dividend payout ratio (DPR) is presently -342.86%.

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.