Geode Capital Management LLC Increases Stake in FTAI Aviation Ltd. (NYSE:FTAI)

Geode Capital Management LLC raised its stake in shares of FTAI Aviation Ltd. (NYSE:FTAI - Free Report) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,386,325 shares of the financial services provider's stock after buying an additional 61,897 shares during the quarter. Geode Capital Management LLC owned about 2.33% of FTAI Aviation worth $317,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FTAI. Cetera Advisors LLC purchased a new stake in shares of FTAI Aviation in the first quarter worth $305,000. CWM LLC raised its holdings in shares of FTAI Aviation by 88.0% in the 2nd quarter. CWM LLC now owns 1,998 shares of the financial services provider's stock valued at $206,000 after acquiring an additional 935 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of FTAI Aviation during the 2nd quarter valued at about $222,000. SeaCrest Wealth Management LLC purchased a new position in shares of FTAI Aviation during the second quarter worth about $300,000. Finally, Highland Capital Management LLC bought a new position in shares of FTAI Aviation in the second quarter worth approximately $248,000. Hedge funds and other institutional investors own 88.96% of the company's stock.

FTAI Aviation Price Performance

FTAI Aviation stock traded down $3.36 during trading hours on Friday, reaching $131.72. The company had a trading volume of 2,343,598 shares, compared to its average volume of 1,055,882. FTAI Aviation Ltd. has a 12-month low of $44.15 and a 12-month high of $177.18. The company has a 50-day moving average price of $152.48 and a 200 day moving average price of $123.70. The firm has a market cap of $13.51 billion, a price-to-earnings ratio of -1,317.07 and a beta of 2.06.

FTAI Aviation (NYSE:FTAI - Get Free Report) last issued its earnings results 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 firm had revenue of $465.80 million during the quarter, compared to analysts' expectations of $422.45 million. FTAI Aviation had a return on equity of 206.25% and a net margin of 1.59%. The firm's quarterly revenue was up 60.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, research analysts expect that FTAI Aviation Ltd. will post 2.21 earnings per share for the current year.

FTAI Aviation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.91%. FTAI Aviation's dividend payout ratio is currently -1,199.88%.

Wall Street Analysts Forecast Growth

FTAI has been the subject of several research analyst reports. Compass Point lifted their target price on shares of FTAI Aviation from $118.00 to $156.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Morgan Stanley reaffirmed an "underperform" rating on shares of FTAI Aviation in a report on Friday, October 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $160.00 target price on shares of FTAI Aviation in a research note on Friday, November 1st. Citigroup lifted their price target on FTAI Aviation from $134.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Finally, BTIG Research initiated coverage on FTAI Aviation in a report on Monday, August 26th. They issued a "buy" rating and a $140.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $166.18.

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.