ICG Advisors LLC Trims Position in FTAI Aviation Ltd. $FTAI

ICG Advisors LLC reduced its holdings in FTAI Aviation Ltd. (NASDAQ:FTAI) by 27.3% in the 1st quarter, HoldingsChannel reports. The fund owned 20,000 shares of the financial services provider’s stock after selling 7,500 shares during the period. FTAI Aviation comprises approximately 19.1% of ICG Advisors LLC’s holdings, making the stock its 2nd biggest position. ICG Advisors LLC’s holdings in FTAI Aviation were worth $4,900,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Garton & Associates Financial Advisors LLC bought a new stake in shares of FTAI Aviation in the fourth quarter worth $30,000. Greenline Wealth Management LLC bought a new position in FTAI Aviation during the 4th quarter worth $50,000. First Horizon Corp raised its position in FTAI Aviation by 131.9% during the 4th quarter. First Horizon Corp now owns 320 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 182 shares during the last quarter. Covestor Ltd lifted its holdings in FTAI Aviation by 338.6% during the 4th quarter. Covestor Ltd now owns 386 shares of the financial services provider’s stock worth $76,000 after buying an additional 298 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in FTAI Aviation by 88.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 485 shares of the financial services provider’s stock worth $95,000 after buying an additional 227 shares during the period. Institutional investors own 88.96% of the company’s stock.

Analyst Ratings Changes

FTAI has been the topic of a number of analyst reports. BTIG Research upped their price target on FTAI Aviation from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Zacks Research downgraded FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Barclays lifted their price objective on FTAI Aviation from $260.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Weiss Ratings downgraded shares of FTAI Aviation from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $319.00 price target on shares of FTAI Aviation in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.88.

FTAI Aviation Price Performance

FTAI stock opened at $268.40 on Friday. The company has a quick ratio of 2.48, a current ratio of 5.24 and a debt-to-equity ratio of 8.00. The firm has a market cap of $27.53 billion, a price-to-earnings ratio of 53.25, a PEG ratio of 1.10 and a beta of 1.47. The company’s fifty day simple moving average is $251.44 and its 200 day simple moving average is $247.62. FTAI Aviation Ltd. has a 12-month low of $108.47 and a 12-month high of $323.51.

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

FTAI Aviation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. FTAI Aviation’s dividend payout ratio is presently 31.75%.

Insider Activity

In related news, Director Judith A. Hannaway sold 255 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total transaction of $64,741.95. Following the completion of the sale, the director owned 3,012 shares of the company’s stock, valued at $764,716.68. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martin Tuchman sold 67,500 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $241.99, for a total value of $16,334,325.00. Following the sale, the director directly owned 210,491 shares of the company’s stock, 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 90 days, insiders have sold 254,515 shares of company stock worth $61,599,445. 1.35% of the stock is owned by corporate insiders.

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.