Lord Abbett & CO. LLC lowered its position in shares of FTAI Aviation Ltd. (NYSE:FTAI - Free Report) by 17.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 491,615 shares of the financial services provider's stock after selling 102,823 shares during the quarter. Lord Abbett & CO. LLC owned about 0.48% of FTAI Aviation worth $65,336,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer & Co. Inc. raised its position in shares of FTAI Aviation by 96.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,349 shares of the financial services provider's stock valued at $1,110,000 after buying an additional 4,106 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of FTAI Aviation during the 3rd quarter worth $498,000. Diversified Trust Co bought a new stake in shares of FTAI Aviation during the 3rd quarter worth $1,738,000. Luxor Capital Group LP acquired a new stake in FTAI Aviation in the third quarter valued at about $1,298,000. Finally, Charles Schwab Investment Management Inc. grew its position in FTAI Aviation by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,047,572 shares of the financial services provider's stock valued at $139,222,000 after acquiring an additional 35,888 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company's stock.
FTAI Aviation Price Performance
Shares of NYSE:FTAI traded down $3.36 during mid-day trading on Friday, hitting $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 one year low of $44.15 and a one year high of $177.18. The firm has a fifty day moving average price of $152.48 and a 200 day moving average price of $124.01. The company has a market capitalization of $13.51 billion, a PE 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). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. The firm had revenue of $465.80 million during the quarter, compared to analyst estimates of $422.45 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The business's quarterly revenue was up 60.0% on a year-over-year basis. Research analysts expect that FTAI Aviation Ltd. will post 2.21 earnings per share for the current fiscal year.
FTAI Aviation Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Thursday, November 14th were paid 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 yield of 0.91%. FTAI Aviation's dividend payout ratio (DPR) is currently -1,199.88%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Benchmark boosted their target price on shares of FTAI Aviation from $150.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Compass Point upped their target price on FTAI Aviation from $118.00 to $156.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Morgan Stanley reiterated an "underperform" rating on shares of FTAI Aviation in a research report on Friday, October 18th. Barclays boosted their price target on FTAI Aviation from $135.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of FTAI Aviation from $125.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $166.18.
Read Our Latest Stock Analysis on FTAI
FTAI Aviation Profile
(
Free Report)
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.
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