FTAI Aviation Ltd. $FTAI Shares Sold by CastleKnight Management LP

CastleKnight Management LP cut its position in FTAI Aviation Ltd. (NASDAQ:FTAI) by 65.2% during the fourth quarter, Holdings Channel reports. The firm owned 27,700 shares of the financial services provider’s stock after selling 52,000 shares during the period. CastleKnight Management LP’s holdings in FTAI Aviation were worth $5,453,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of FTAI. Capital World Investors grew its holdings in FTAI Aviation by 41.1% during the fourth quarter. Capital World Investors now owns 8,916,830 shares of the financial services provider’s stock worth $1,755,290,000 after acquiring an additional 2,596,265 shares during the period. Norges Bank acquired a new stake in FTAI Aviation during the fourth quarter worth about $262,393,000. Northern Right Capital Management L.P. grew its holdings in FTAI Aviation by 884.1% during the second quarter. Northern Right Capital Management L.P. now owns 885,675 shares of the financial services provider’s stock worth $101,888,000 after acquiring an additional 795,675 shares during the period. Rubric Capital Management LP grew its holdings in FTAI Aviation by 28.3% during the second quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider’s stock worth $390,455,000 after acquiring an additional 749,080 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in FTAI Aviation by 396.7% during the third quarter. JPMorgan Chase & Co. now owns 831,414 shares of the financial services provider’s stock worth $138,730,000 after acquiring an additional 664,037 shares during the period. 88.96% of the stock is owned by institutional investors and hedge funds.

FTAI Aviation Stock Up 3.3%

Shares of FTAI opened at $277.31 on Thursday. 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 12 month low of $108.47 and a 12 month high of $323.51. The stock’s 50 day moving average is $249.66 and its two-hundred day moving average is $243.44. The firm has a market cap of $28.45 billion, a P/E ratio of 55.02, a PEG ratio of 1.08 and a beta of 1.47.

FTAI Aviation (NASDAQ:FTAI) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.32). FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The business had revenue of $830.70 million during the quarter. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The company’s revenue for the quarter was up 65.4% compared to the same quarter last year. Analysts predict that FTAI Aviation Ltd. will post 6.77 earnings per share for the current fiscal year.

FTAI Aviation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, May 13th. FTAI Aviation’s dividend payout ratio (DPR) is presently 31.75%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BTIG Research raised their target price on FTAI Aviation from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $319.00 target price on shares of FTAI Aviation in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $400.00 target price on shares of FTAI Aviation in a report on Sunday, May 3rd. Barclays raised their target price on FTAI Aviation from $260.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Zacks Research lowered FTAI Aviation from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $326.88.

Insider Activity at FTAI Aviation

In other FTAI Aviation news, Director Martin Tuchman sold 67,500 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $241.99, for a total value of $16,334,325.00. Following the sale, the director directly owned 210,491 shares of the company’s stock, valued at approximately $50,936,717.09. This trade represents a 24.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judith A. Hannaway sold 255 shares of the firm’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 sale, the director directly owned 3,012 shares in the company, valued at approximately $764,716.68. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 254,515 shares of company stock worth $61,599,445. 1.35% of the stock is owned by corporate insiders.

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.