State Street Corp Buys 38,279 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

State Street Corp raised its stake in FTAI Aviation Ltd. (NYSE:FTAI) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,325,049 shares of the financial services provider’s stock after buying an additional 38,279 shares during the period. State Street Corp owned about 2.27% of FTAI Aviation worth $308,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its stake in FTAI Aviation by 96.8% in the third quarter. Oppenheimer & Co. Inc. now owns 8,349 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 4,106 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of FTAI Aviation in the 3rd quarter valued at $498,000. Diversified Trust Co bought a new position in shares of FTAI Aviation during the 3rd quarter valued at $1,738,000. Charles Schwab Investment Management Inc. raised its position in FTAI Aviation by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,047,572 shares of the financial services provider’s stock worth $139,222,000 after purchasing an additional 35,888 shares during the period. Finally, Carnegie Investment Counsel bought a new stake in FTAI Aviation in the third quarter worth $532,000. Hedge funds and other institutional investors own 88.96% of the company’s stock.

FTAI Aviation Trading Up 0.1 %

Shares of FTAI opened at $150.00 on Wednesday. FTAI Aviation Ltd. has a 1-year low of $43.29 and a 1-year high of $177.18. The firm’s 50-day moving average price is $152.31 and its 200-day moving average price is $122.83. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of -1,499.85 and a beta of 2.06.

FTAI Aviation (NYSE:FTAI) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The firm had revenue of $465.80 million for the quarter, compared to analysts’ expectations of $422.45 million. FTAI Aviation had a return on equity of 206.25% and a net margin of 1.59%. The firm’s revenue was up 60.0% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. On average, research analysts forecast that FTAI Aviation Ltd. will post 2.21 EPS for the current fiscal year.

FTAI Aviation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, November 14th. FTAI Aviation’s dividend payout ratio (DPR) is presently -1,199.88%.

Analyst Upgrades and Downgrades

FTAI has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price objective on shares of FTAI Aviation in a research note on Friday, November 1st. Morgan Stanley reaffirmed an “underperform” rating on shares of FTAI Aviation in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on FTAI Aviation from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Benchmark lifted their target price on shares of FTAI Aviation from $150.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Barclays increased their price target on shares of FTAI Aviation from $135.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, FTAI Aviation presently has an average rating of “Moderate Buy” and an average target price of $166.18.

FTAI Aviation 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.