Cresset Asset Management LLC Lowers Position in FTAI Aviation Ltd. (NYSE:FTAI)

Cresset Asset Management LLC lowered its stake in shares of FTAI Aviation Ltd. (NYSE:FTAI) by 35.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,643 shares of the financial services provider’s stock after selling 4,687 shares during the period. Cresset Asset Management LLC’s holdings in FTAI Aviation were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FTAI. Capital International Investors boosted its holdings in FTAI Aviation by 39.7% during the fourth quarter. Capital International Investors now owns 10,677,171 shares of the financial services provider’s stock worth $1,537,940,000 after buying an additional 3,034,838 shares in the last quarter. Norges Bank purchased a new stake in FTAI Aviation during the fourth quarter worth about $183,688,000. William Blair Investment Management LLC purchased a new stake in FTAI Aviation during the fourth quarter worth about $174,372,000. Clearbridge Investments LLC boosted its holdings in FTAI Aviation by 104.3% during the fourth quarter. Clearbridge Investments LLC now owns 463,411 shares of the financial services provider’s stock worth $66,750,000 after buying an additional 236,556 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in FTAI Aviation by 35.1% during the fourth quarter. Wellington Management Group LLP now owns 904,193 shares of the financial services provider’s stock worth $130,240,000 after acquiring an additional 234,874 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

FTAI Aviation Price Performance

NYSE:FTAI opened at $107.12 on Monday. The firm has a 50 day simple moving average of $103.06 and a 200-day simple moving average of $125.19. The firm has a market cap of $10.99 billion, a PE ratio of -1,071.09 and a beta of 1.64. FTAI Aviation Ltd. has a 1-year low of $75.06 and a 1-year high of $181.64.

FTAI Aviation (NYSE:FTAI) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.08). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. FTAI Aviation’s revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. As a group, sell-side analysts expect that FTAI Aviation Ltd. will post 2.2 earnings per share for the current fiscal year.

FTAI Aviation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, May 16th. FTAI Aviation’s dividend payout ratio (DPR) is 571.43%.

Insider Buying and Selling

In related news, insider Stacy Kuperus purchased 1,087 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $92.90 per share, with a total value of $100,982.30. Following the completion of the transaction, the insider now owns 88,423 shares of the company’s stock, valued at approximately $8,214,496.70. This trade represents a 1.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph P. Jr. Adams purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average cost of $94.54 per share, with a total value of $283,620.00. Following the transaction, the chief executive officer now directly owns 341,852 shares of the company’s stock, valued at $32,318,688.08. The trade was a 0.89% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 10,667 shares of company stock valued at $1,008,715. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FTAI shares. Citigroup restated a “buy” rating on shares of FTAI Aviation in a research report on Thursday, March 6th. Barclays cut their target price on shares of FTAI Aviation from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada cut their target price on shares of FTAI Aviation from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. StockNews.com upgraded shares of FTAI Aviation to a “sell” rating in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus upgraded shares of FTAI Aviation from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FTAI Aviation presently has an average rating of “Moderate Buy” and an average target price of $171.83.

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.