Weybosset Research & Management LLC Reduces Stock Position in FTAI Aviation Ltd. $FTAI

by · The Cerbat Gem

Weybosset Research & Management LLC reduced its position in FTAI Aviation Ltd. (NASDAQ:FTAI – Free Report) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,809 shares of the financial services provider’s stock after selling 5,569 shares during the quarter. FTAI Aviation accounts for approximately 7.0% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 3rd largest holding. Weybosset Research & Management LLC owned approximately 0.13% of FTAI Aviation worth $21,827,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc boosted its position in FTAI Aviation by 67.4% in the second quarter. Ensign Peak Advisors Inc now owns 3,075,788 shares of the financial services provider’s stock valued at $353,839,000 after buying an additional 1,238,294 shares during the last quarter. Norges Bank purchased a new position in FTAI Aviation during the second quarter valued at approximately $142,012,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of FTAI Aviation by 1,678.6% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,140,542 shares of the financial services provider’s stock valued at $131,208,000 after buying an additional 1,076,416 shares in the last quarter. Northern Right Capital Management L.P. raised its position in shares of FTAI Aviation by 884.1% during the 2nd quarter. Northern Right Capital Management L.P. now owns 885,675 shares of the financial services provider’s stock worth $101,888,000 after purchasing an additional 795,675 shares during the last quarter. Finally, Rubric Capital Management LP boosted its stake in FTAI Aviation by 28.3% during the 2nd quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider’s stock worth $390,455,000 after purchasing an additional 749,080 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors.

FTAI Aviation Stock Performance

Shares of FTAI opened at $172.83 on Tuesday. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 39.46 and a beta of 1.56. The company’s 50 day simple moving average is $169.35 and its 200 day simple moving average is $153.04. FTAI Aviation Ltd. has a 1 year low of $75.06 and a 1 year high of $194.36.

FTAI Aviation (NASDAQ:FTAI – Get Free Report) last posted its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.09). The business had revenue of $667.06 million during the quarter, compared to analysts’ expectations of $662.51 million. FTAI Aviation had a net margin of 20.82% and a return on equity of 370.51%. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. Equities analysts expect that FTAI Aviation Ltd. will post 2.2 EPS for the current fiscal year.

FTAI Aviation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were paid a $0.35 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. FTAI Aviation’s dividend payout ratio (DPR) is 31.96%.

Insider Activity

In other news, COO David Moreno bought 4,354 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $153.89 per share, for a total transaction of $670,037.06. Following the completion of the purchase, the chief operating officer owned 4,354 shares of the company’s stock, valued at $670,037.06. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FTAI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FTAI Aviation in a research note on Monday, December 15th. Jones Trading initiated coverage on shares of FTAI Aviation in a report on Friday, October 10th. They set a “buy” rating and a $306.00 price target for the company. Wall Street Zen lowered shares of FTAI Aviation from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Zacks Research downgraded shares of FTAI Aviation from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 11th. Finally, BTIG Research restated a “buy” rating and issued a $230.00 price target on shares of FTAI Aviation in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.63.

Check Out Our Latest Report on FTAI

FTAI Aviation Profile

(Free Report)

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.

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