Fred Alger Management LLC Purchases 49,441 Shares of FTAI Aviation Ltd. $FTAI

Fred Alger Management LLC boosted its position in FTAI Aviation Ltd. (NASDAQ:FTAI) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 376,693 shares of the financial services provider’s stock after acquiring an additional 49,441 shares during the period. Fred Alger Management LLC owned 0.37% of FTAI Aviation worth $74,152,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Greenline Wealth Management LLC bought a new position in FTAI Aviation in the fourth quarter valued at about $50,000. First Horizon Corp boosted its holdings in FTAI Aviation by 131.9% during the fourth quarter. First Horizon Corp now owns 320 shares of the financial services provider’s stock worth $63,000 after buying an additional 182 shares during the last quarter. Covestor Ltd boosted its holdings in FTAI Aviation by 338.6% during the fourth quarter. Covestor Ltd now owns 386 shares of the financial services provider’s stock worth $76,000 after buying an additional 298 shares during the last quarter. Rossby Financial LCC boosted its holdings in FTAI Aviation by 13.6% during the third quarter. Rossby Financial LCC now owns 543 shares of the financial services provider’s stock worth $94,000 after buying an additional 65 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in FTAI Aviation by 88.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 485 shares of the financial services provider’s stock worth $95,000 after buying an additional 227 shares during the last quarter. Institutional investors own 88.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports 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. Zacks Research cut FTAI Aviation from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Morgan Stanley restated 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 restated a “buy” rating and set a $400.00 target price on shares of FTAI Aviation in a report on Sunday, May 3rd. Finally, Weiss Ratings cut FTAI Aviation from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.88.

Insider Activity at FTAI Aviation

In other FTAI Aviation news, Director Martin Tuchman sold 67,500 shares of the business’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 owned 210,491 shares in the company, valued at approximately $50,936,717.09. The trade was a 24.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Judith A. Hannaway sold 255 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total value of $64,741.95. Following the transaction, the director directly owned 3,012 shares in the company, valued at $764,716.68. This trade represents a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 254,515 shares of company stock worth $61,599,445 in the last 90 days. Company insiders own 1.35% of the company’s stock.

FTAI Aviation Trading Up 1.9%

NASDAQ FTAI opened at $268.52 on Wednesday. The stock has a market capitalization of $27.55 billion, a price-to-earnings ratio of 53.28, a PEG ratio of 1.06 and a beta of 1.47. The stock’s 50 day moving average price is $249.05 and its two-hundred day moving average price is $242.69. The company has a debt-to-equity ratio of 8.00, a quick ratio of 2.48 and a current ratio of 5.24. FTAI Aviation Ltd. has a 52 week low of $108.47 and a 52 week high of $323.51.

FTAI Aviation (NASDAQ:FTAI) last released its earnings results 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). The firm had revenue of $830.70 million during the quarter. FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The business’s quarterly revenue was up 65.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. As a group, analysts anticipate that FTAI Aviation Ltd. will post 6.77 earnings per share for the current fiscal year.

FTAI Aviation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a $0.45 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.80 annualized dividend and a yield of 0.7%. FTAI Aviation’s payout ratio is presently 31.75%.

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.