Bank of Nova Scotia Purchases New Shares in FTAI Aviation Ltd. $FTAI

Bank of Nova Scotia bought a new position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 33,990 shares of the financial services provider’s stock, valued at approximately $8,328,000.

Several other hedge funds also recently modified their holdings of FTAI. AQR Capital Management LLC acquired a new stake in FTAI Aviation in the first quarter worth $242,000. Cetera Investment Advisers raised its holdings in shares of FTAI Aviation by 73.3% in the 2nd quarter. Cetera Investment Advisers now owns 5,597 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 2,368 shares during the period. Invesco Ltd. raised its position in shares of FTAI Aviation by 23.8% in the second quarter. Invesco Ltd. now owns 417,375 shares of the financial services provider’s stock valued at $48,015,000 after purchasing an additional 80,341 shares during the period. Amundi lifted its holdings in FTAI Aviation by 16,560.0% during the 2nd quarter. Amundi now owns 2,499 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 2,484 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of FTAI Aviation in the second quarter valued at about $2,736,000. Institutional investors own 88.96% of the company’s stock.

FTAI Aviation Stock Performance

FTAI opened at $215.98 on Monday. The firm has a market capitalization of $22.16 billion, a PE ratio of 42.85, a P/E/G ratio of 0.87 and a beta of 1.46. The company has a debt-to-equity ratio of 8.00, a current ratio of 5.24 and a quick ratio of 2.48. FTAI Aviation Ltd. has a fifty-two week low of $110.76 and a fifty-two week high of $323.51. The company’s 50-day moving average is $242.09 and its 200 day moving average is $254.66.

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). FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The company had revenue of $830.70 million during the quarter. During the same period in the prior year, the firm earned $0.87 earnings per share. The company’s revenue was up 65.4% compared to the same quarter last year. As a group, research analysts predict that FTAI Aviation Ltd. will post 6.77 earnings per share for the current fiscal year.

FTAI Aviation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, May 13th. FTAI Aviation’s dividend payout ratio is 31.75%.

Insider Activity

In other FTAI Aviation news, Director Judith A. Hannaway sold 255 shares of the business’s stock in a transaction 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 sale, the director directly owned 3,012 shares in the company, valued at $764,716.68. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin Tuchman sold 67,500 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $241.99, for a total value of $16,334,325.00. Following the transaction, the director directly owned 210,491 shares in the company, valued at $50,936,717.09. This represents a 24.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 254,515 shares of company stock worth $61,599,445. Insiders own 1.35% of the company’s stock.

Wall Street Analysts Forecast Growth

FTAI has been the subject of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $319.00 price objective on shares of FTAI Aviation in a report on Friday, May 8th. BTIG Research upped their price objective on FTAI Aviation from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group restated a “buy” rating and set a $400.00 price objective on shares of FTAI Aviation in a research report on Sunday, May 3rd. Weiss Ratings raised shares of FTAI Aviation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Zacks Research cut shares of FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, FTAI Aviation has a consensus rating of “Moderate Buy” and an average target price of $340.62.

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.