Steel Grove Capital Advisors LLC Acquires New Position in FTAI Aviation Ltd. $FTAI

Steel Grove Capital Advisors LLC bought a new stake in FTAI Aviation Ltd. (NASDAQ:FTAI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,800 shares of the financial services provider’s stock, valued at approximately $969,000.

Several other large investors have also modified their holdings of FTAI. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of FTAI Aviation during the 3rd quarter worth $25,000. SJS Investment Consulting Inc. lifted its stake in shares of FTAI Aviation by 122.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 107 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of FTAI Aviation by 142.2% in the 1st quarter. Meeder Asset Management Inc. now owns 109 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 64 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of FTAI Aviation during the 2nd quarter worth about $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of FTAI Aviation during the 2nd quarter worth about $37,000. 88.96% of the stock is currently owned by hedge funds and other institutional investors.

FTAI Aviation Stock Up 0.3%

Shares of NASDAQ FTAI traded up $0.56 during trading on Tuesday, reaching $166.09. 1,740,838 shares of the stock were exchanged, compared to its average volume of 1,505,655. The business’s 50-day moving average price is $192.99 and its 200 day moving average price is $225.30. FTAI Aviation Ltd. has a twelve month low of $149.50 and a twelve month high of $323.51. The company has a quick ratio of 2.07, a current ratio of 5.28 and a debt-to-equity ratio of 8.55. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51.

FTAI Aviation (NASDAQ:FTAI) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.19). The firm had revenue of $953.09 million for the quarter. FTAI Aviation had a net margin of 15.94% and a return on equity of 139.59%. The company’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period last year, the firm posted $1.57 earnings per share. As a group, equities analysts forecast that FTAI Aviation Ltd. will post 5.48 EPS for the current fiscal year.

FTAI Aviation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Wednesday, August 12th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 12th. FTAI Aviation’s payout ratio is currently 43.48%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FTAI. Morgan Stanley raised their price target on shares of FTAI Aviation from $319.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Weiss Ratings downgraded shares of FTAI Aviation from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. BTIG Research dropped their price objective on shares of FTAI Aviation from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $290.00 target price on shares of FTAI Aviation in a research note on Friday, July 31st. Finally, Citizens Jmp initiated coverage on shares of FTAI Aviation in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.88.

Insider Activity at FTAI Aviation

In related news, President David Moreno bought 2,475 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $201.27 per share, with a total value of $498,143.25. Following the completion of the acquisition, the president owned 199,490 shares of the company’s stock, valued at $40,151,352.30. This trade represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.35% of the company’s stock.

About FTAI Aviation

FTAI Aviation Ltd. is an aviation company focused on owning, leasing, and managing commercial aircraft and aircraft engines. The company provides aviation assets to airlines, aircraft leasing companies, maintenance, repair and overhaul providers, and other participants in the global aviation industry.

FTAI Aviation’s business includes aircraft and engine leasing, asset management, and the acquisition and sale of aviation equipment. Through its aviation products activities, the company also develops and sells proprietary aerospace products designed to improve engine performance, reliability, and maintenance economics, including solutions associated with the CFM56 engine platform.

The company serves customers across international aviation markets and manages assets used by airlines and operators in multiple regions.