Bank of Nova Scotia Purchases Shares of 33,990 FTAI Aviation Ltd. $FTAI

Bank of Nova Scotia purchased a new position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,990 shares of the financial services provider’s stock, valued at approximately $8,328,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mediolanum International Funds Ltd bought a new position in FTAI Aviation during the 1st quarter worth $1,313,000. M&T Bank Corp grew its holdings in FTAI Aviation by 323.6% in the 4th quarter. M&T Bank Corp now owns 16,112 shares of the financial services provider’s stock worth $3,172,000 after buying an additional 12,308 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of FTAI Aviation during the first quarter valued at $7,217,000. Trek Financial LLC bought a new stake in shares of FTAI Aviation during the fourth quarter valued at about $3,936,000. Finally, Swiss National Bank raised its holdings in FTAI Aviation by 48.9% during the first quarter. Swiss National Bank now owns 301,000 shares of the financial services provider’s stock worth $73,745,000 after purchasing an additional 98,808 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

Insider Activity

In other news, Director Martin Tuchman sold 143,584 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $242.44, for a total transaction of $34,810,504.96. Following the completion of the transaction, the director owned 236,302 shares of the company’s stock, valued at approximately $57,289,056.88. This represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Judith A. Hannaway sold 255 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total value of $64,741.95. Following the completion of the transaction, the director directly owned 3,012 shares of the company’s stock, valued at approximately $764,716.68. This trade represents a 7.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 254,515 shares of company stock worth $61,599,445. Insiders own 1.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FTAI. Zacks Research lowered FTAI Aviation from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Jefferies Financial Group reissued a “buy” rating and issued a $400.00 price target on shares of FTAI Aviation in a report on Sunday, May 3rd. Weiss Ratings upgraded shares of FTAI Aviation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. BTIG Research lifted their target price on shares of FTAI Aviation from $340.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $319.00 target price on shares of FTAI Aviation in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, FTAI Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $340.62.

FTAI Aviation Stock Performance

Shares of NASDAQ:FTAI opened at $215.98 on Monday. The firm has a fifty day moving average price of $242.09 and a 200 day moving average price of $254.66. The company has a current ratio of 5.24, a quick ratio of 2.48 and a debt-to-equity ratio of 8.00. FTAI Aviation Ltd. has a 1 year low of $110.76 and a 1 year high of $323.51. The stock has a market capitalization of $22.16 billion, a PE ratio of 42.85, a P/E/G ratio of 0.87 and a beta of 1.46.

FTAI Aviation (NASDAQ:FTAI) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.32). The company had revenue of $830.70 million for the quarter. FTAI Aviation had a return on equity of 181.43% and a net margin of 18.92%.The firm’s revenue for the quarter was up 65.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. Analysts expect that FTAI Aviation Ltd. will post 6.77 EPS for the current fiscal year.

FTAI Aviation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. FTAI Aviation’s payout ratio is 31.75%.

FTAI Aviation Company Profile

FTAI Aviation (NASDAQ: FTAI) is a commercial aircraft leasing company that acquires, manages and leases wide-body jet aircraft to airlines globally. The company’s portfolio is focused on modern, fuel-efficient Boeing models, including the 767, 777 and 787 families, which are deployed under long-term operating leases. By concentrating on in-demand wide-body assets, FTAI Aviation seeks to deliver stable cash flows through lease rentals and maintenance reserve collections while providing airlines with flexible fleet solutions.

In addition to lease origination, FTAI Aviation offers end-to-end asset management services.