Truist Financial Corp reduced its position in shares of FTAI Aviation Ltd. (NYSE:FTAI – Free Report) by 57.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,099 shares of the financial services provider’s stock after selling 2,811 shares during the quarter. Truist Financial Corp’s holdings in FTAI Aviation were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in FTAI. Creative Planning raised its stake in shares of FTAI Aviation by 19.9% during the second quarter. Creative Planning now owns 16,435 shares of the financial services provider’s stock worth $1,697,000 after buying an additional 2,733 shares during the last quarter. Algert Global LLC bought a new stake in shares of FTAI Aviation during the 2nd quarter valued at $1,042,000. The Manufacturers Life Insurance Company lifted its stake in shares of FTAI Aviation by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,701 shares of the financial services provider’s stock valued at $5,234,000 after purchasing an additional 1,760 shares during the period. Fred Alger Management LLC bought a new position in shares of FTAI Aviation in the 2nd quarter worth $19,437,000. Finally, Xponance Inc. grew its stake in shares of FTAI Aviation by 4.1% during the second quarter. Xponance Inc. now owns 6,275 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 248 shares during the period. 88.96% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on FTAI shares. Wolfe Research lowered FTAI Aviation from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 10th. Morgan Stanley restated an “underperform” rating on shares of FTAI Aviation in a report on Friday. StockNews.com raised shares of FTAI Aviation to a “sell” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their price objective on FTAI Aviation from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, JMP Securities boosted their target price on FTAI Aviation from $90.00 to $132.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.45.
FTAI Aviation Price Performance
FTAI stock opened at $143.55 on Friday. The business has a 50-day moving average of $126.65 and a 200-day moving average of $101.58. FTAI Aviation Ltd. has a fifty-two week low of $32.66 and a fifty-two week high of $149.74. The stock has a market capitalization of $14.39 billion, a P/E ratio of 65.55 and a beta of 2.04.
FTAI Aviation (NYSE:FTAI – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). The business had revenue of $443.59 million during the quarter, compared to the consensus estimate of $361.92 million. FTAI Aviation had a positive return on equity of 180.68% and a negative net margin of 1.50%. Equities analysts expect that FTAI Aviation Ltd. will post 2.13 EPS for the current year.
FTAI Aviation Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 12th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, August 12th. FTAI Aviation’s payout ratio is 54.79%.
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.
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