FTAI Aviation (NASDAQ:FTAI) Given New $293.00 Price Target at Morgan Stanley

FTAI Aviation (NASDAQ:FTAI) had its price objective hoisted by Morgan Stanley from $266.00 to $293.00 in a report issued on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

FTAI has been the subject of several other research reports. Citigroup reiterated an “outperform” rating on shares of FTAI Aviation in a report on Thursday, January 29th. Wolfe Research reaffirmed an “outperform” rating and set a $225.00 target price on shares of FTAI Aviation in a research report on Wednesday, December 31st. Royal Bank Of Canada increased their price target on FTAI Aviation from $270.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. BTIG Research raised their price target on FTAI Aviation from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Jefferies Financial Group restated a “buy” rating and set a $350.00 price target on shares of FTAI Aviation in a research note on Monday, February 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, FTAI Aviation has an average rating of “Moderate Buy” and an average target price of $295.78.

FTAI Aviation Trading Up 2.3%

NASDAQ FTAI opened at $247.07 on Tuesday. FTAI Aviation has a 52 week low of $81.45 and a 52 week high of $323.51. The company has a 50 day moving average price of $272.17 and a 200 day moving average price of $210.41. The company has a quick ratio of 2.30, a current ratio of 5.28 and a debt-to-equity ratio of 10.32. The firm has a market cap of $25.34 billion, a PE ratio of 53.48, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50.

FTAI Aviation (NASDAQ:FTAI) last announced its earnings results on Wednesday, February 25th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). FTAI Aviation had a net margin of 19.98% and a return on equity of 257.07%. The firm had revenue of $662.03 million during the quarter, compared to analyst estimates of $710.37 million. During the same quarter last year, the business earned $0.84 earnings per share. FTAI Aviation’s revenue was up 32.7% on a year-over-year basis. As a group, sell-side analysts forecast that FTAI Aviation will post 2.2 EPS for the current fiscal year.

FTAI Aviation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 13th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, March 13th. FTAI Aviation’s dividend payout ratio is presently 34.63%.

Hedge Funds Weigh In On FTAI Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTAI. Mather Group LLC. purchased a new stake in FTAI Aviation during the 3rd quarter valued at about $28,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of FTAI Aviation in the fourth quarter worth about $30,000. Greenline Wealth Management LLC acquired a new stake in shares of FTAI Aviation during the fourth quarter worth about $50,000. Global Retirement Partners LLC boosted its position in FTAI Aviation by 880.0% in the third quarter. Global Retirement Partners LLC now owns 343 shares of the financial services provider’s stock valued at $57,000 after buying an additional 308 shares during the last quarter. Finally, First Horizon Corp boosted its position in FTAI Aviation by 131.9% in the fourth quarter. First Horizon Corp now owns 320 shares of the financial services provider’s stock valued at $63,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

About FTAI Aviation

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.