Harbor Capital Advisors Inc. Sells 115,003 Shares of FTAI Aviation Ltd. $FTAI

Harbor Capital Advisors Inc. cut its position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 74.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,459 shares of the financial services provider’s stock after selling 115,003 shares during the period. FTAI Aviation makes up 0.5% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 28th largest holding. Harbor Capital Advisors Inc.’s holdings in FTAI Aviation were worth $6,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FTAI. Brookstone Capital Management grew its holdings in FTAI Aviation by 2.5% in the third quarter. Brookstone Capital Management now owns 3,088 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 75 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of FTAI Aviation by 29.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 3,121 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 714 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in FTAI Aviation by 68.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 293 shares in the last quarter. Red Door Wealth Management LLC purchased a new stake in shares of FTAI Aviation in the third quarter valued at about $1,471,000. Finally, Oak Thistle LLC purchased a new position in FTAI Aviation in the third quarter worth approximately $2,732,000. Institutional investors own 88.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FTAI. BTIG Research reiterated a “buy” rating and issued a $230.00 target price on shares of FTAI Aviation in a report on Wednesday, November 19th. Wall Street Zen cut shares of FTAI Aviation from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Jones Trading assumed coverage on FTAI Aviation in a report on Friday, October 10th. They issued a “buy” rating and a $306.00 price target for the company. Barclays increased their target price on FTAI Aviation from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Zacks Research lowered FTAI Aviation from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, FTAI Aviation presently has an average rating of “Moderate Buy” and an average target price of $203.63.

FTAI Aviation Stock Performance

Shares of NASDAQ:FTAI opened at $173.26 on Thursday. The stock’s 50-day moving average is $169.21 and its 200-day moving average is $151.75. FTAI Aviation Ltd. has a 52-week low of $75.06 and a 52-week high of $194.36. The company has a market cap of $17.77 billion, a P/E ratio of 39.56 and a beta of 1.56.

FTAI Aviation (NASDAQ:FTAI) last issued its 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 firm had revenue of $667.06 million during the quarter, compared to analyst estimates of $662.51 million. FTAI Aviation had a net margin of 20.82% and a return on equity of 370.51%. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. As a group, equities analysts predict that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. FTAI Aviation’s dividend payout ratio is 31.96%.

Insiders Place Their Bets

In other FTAI Aviation news, COO David Moreno purchased 4,354 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $153.89 per share, with a total value of $670,037.06. Following the completion of the transaction, the chief operating officer directly owned 4,354 shares in the company, valued at $670,037.06. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

FTAI Aviation Profile

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.