Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in FTAI Aviation Ltd. (NYSE:FTAI)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in FTAI Aviation Ltd. (NYSE:FTAI) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 17,636 shares of the financial services provider’s stock after selling 2,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FTAI Aviation were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FTAI. Handelsbanken Fonder AB raised its stake in FTAI Aviation by 27.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 14,000 shares of the financial services provider’s stock worth $498,000 after acquiring an additional 3,000 shares during the period. Xponance Inc. purchased a new stake in shares of FTAI Aviation in the third quarter worth $209,000. Bank of New York Mellon Corp raised its position in shares of FTAI Aviation by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 372,574 shares of the financial services provider’s stock valued at $13,245,000 after purchasing an additional 3,895 shares during the period. Brown Advisory Inc. purchased a new position in shares of FTAI Aviation during the 3rd quarter valued at $754,000. Finally, Mackenzie Financial Corp bought a new position in FTAI Aviation in the 3rd quarter worth $394,000. 88.96% of the stock is owned by institutional investors.

FTAI Aviation Price Performance

NYSE:FTAI opened at $72.59 on Tuesday. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 33.15 and a beta of 1.90. FTAI Aviation Ltd. has a 1 year low of $26.79 and a 1 year high of $74.99. The stock’s 50 day simple moving average is $64.30 and its two-hundred day simple moving average is $51.70.

FTAI Aviation (NYSE:FTAI) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). The business had revenue of $326.70 million during the quarter, compared to the consensus estimate of $302.07 million. FTAI Aviation had a return on equity of 210.66% and a net margin of 21.08%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, analysts anticipate that FTAI Aviation Ltd. will post 2.49 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, May 10th will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 9th. FTAI Aviation’s dividend payout ratio (DPR) is presently 54.79%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTAI. JMP Securities raised their price target on FTAI Aviation from $66.00 to $85.00 and gave the company a “market outperform” rating in a report on Monday. Stifel Nicolaus increased their target price on FTAI Aviation from $59.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday. Benchmark boosted their price target on FTAI Aviation from $45.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Morgan Stanley increased their price objective on shares of FTAI Aviation from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, StockNews.com cut shares of FTAI Aviation from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.17.

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.