State Street Corp Acquires 38,279 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

State Street Corp grew its stake in FTAI Aviation Ltd. (NYSE:FTAI - Free Report) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,325,049 shares of the financial services provider's stock after acquiring an additional 38,279 shares during the quarter. State Street Corp owned 2.27% of FTAI Aviation worth $308,999,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FTAI. Brown Brothers Harriman & Co. acquired a new stake in shares of FTAI Aviation in the 3rd quarter valued at about $26,000. Arcadia Investment Management Corp MI bought a new position in FTAI Aviation in the 2nd quarter valued at about $33,000. Farther Finance Advisors LLC increased its position in FTAI Aviation by 118.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 349 shares of the financial services provider's stock worth $46,000 after buying an additional 189 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of FTAI Aviation during the second quarter worth $59,000. Finally, Raymond James Trust N.A. bought a new stake in shares of FTAI Aviation in the third quarter valued at about $200,000. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lifted their price objective on shares of FTAI Aviation from $135.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an "outperform" rating and set a $160.00 price objective on shares of FTAI Aviation in a research note on Friday, November 1st. Morgan Stanley reissued an "underperform" rating on shares of FTAI Aviation in a report on Friday, October 18th. Jefferies Financial Group boosted their price target on FTAI Aviation from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price 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 analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $166.18.

FTAI Aviation Stock Performance

Shares of NYSE:FTAI traded up $0.11 during midday trading on Wednesday, hitting $150.11. 641,099 shares of the stock were exchanged, compared to its average volume of 1,043,444. The business's 50-day moving average price is $152.31 and its 200 day moving average price is $122.83. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of -1,502.95 and a beta of 2.06. FTAI Aviation Ltd. has a 12 month low of $43.29 and a 12 month high of $177.18.

FTAI Aviation (NYSE:FTAI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). The business had revenue of $465.80 million during the quarter, compared to analyst estimates of $422.45 million. FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. The company's revenue was up 60.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. As a group, sell-side analysts expect that FTAI Aviation Ltd. will post 2.21 EPS for the current year.

FTAI Aviation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, November 14th. FTAI Aviation's dividend payout ratio is presently -1,199.88%.

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.