Bank of New York Mellon Corp Grows Position in FTAI Aviation Ltd. $FTAI

Bank of New York Mellon Corp grew its position in FTAI Aviation Ltd. (NASDAQ:FTAI) by 27.6% during the first quarter, HoldingsChannel.com reports. The fund owned 361,230 shares of the financial services provider’s stock after acquiring an additional 78,152 shares during the quarter. Bank of New York Mellon Corp’s holdings in FTAI Aviation were worth $88,501,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FTAI. Capital World Investors increased its position in FTAI Aviation by 41.1% in 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 purchasing an additional 2,596,265 shares during the last quarter. Rubric Capital Management LP lifted its position in FTAI Aviation by 10.1% during the fourth quarter. Rubric Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock valued at $728,345,000 after purchasing an additional 339,447 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of FTAI Aviation by 10.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,350,625 shares of the financial services provider’s stock worth $462,721,000 after buying an additional 220,384 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of FTAI Aviation by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 2,004,963 shares of the financial services provider’s stock worth $394,757,000 after buying an additional 71,271 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of FTAI Aviation by 1.2% in the 4th quarter. State Street Corp now owns 1,745,498 shares of the financial services provider’s stock worth $343,601,000 after buying an additional 20,378 shares during the last quarter. 88.96% of the stock is owned by hedge funds and other institutional investors.

FTAI Aviation Trading Up 5.3%

Shares of FTAI opened at $210.25 on Wednesday. The company’s fifty day simple moving average is $244.27 and its 200-day simple moving average is $254.51. The company has a market cap of $21.57 billion, a P/E ratio of 41.72, a P/E/G ratio of 0.80 and a beta of 1.46. 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 twelve month low of $109.90 and a twelve month high of $323.51.

FTAI Aviation (NASDAQ:FTAI) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.32). The firm had revenue of $830.70 million for the quarter. FTAI Aviation had a return on equity of 181.43% and a net margin of 18.92%.The company’s revenue for the quarter was up 65.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, analysts expect that FTAI Aviation Ltd. will post 6.77 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 13th. FTAI Aviation’s payout ratio is 31.75%.

Insider Activity at FTAI Aviation

In other news, Director Martin Tuchman sold 143,584 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $242.44, for a total transaction of $34,810,504.96. Following the transaction, the director owned 236,302 shares of the company’s stock, valued at approximately $57,289,056.88. This represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Judith A. Hannaway sold 255 shares of the 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 completion of the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 254,515 shares of company stock valued at $61,599,445 in the last 90 days. Company insiders own 1.35% of the company’s stock.

Analysts Set New Price Targets

FTAI has been the topic of several recent research reports. Zacks Research cut shares of FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Morgan Stanley reissued an “overweight” rating and set a $319.00 price objective on shares of FTAI Aviation in a research note on Friday, May 8th. Weiss Ratings upgraded FTAI Aviation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Citizens Jmp started coverage on FTAI Aviation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $400.00 price objective on shares of FTAI Aviation in a research note on Sunday, May 3rd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $333.12.

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.