VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in FTAI Aviation Ltd. $FTAI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in FTAI Aviation Ltd. (NASDAQ:FTAI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 38,547 shares of the financial services provider’s stock, valued at approximately $10,428,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in shares of FTAI Aviation by 122.9% during the first quarter. SJS Investment Consulting Inc. now owns 107 shares of the financial services provider’s stock worth $26,000 after buying 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 first quarter. Meeder Asset Management Inc. now owns 109 shares of the financial services provider’s stock worth $27,000 after buying an additional 64 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of FTAI Aviation in the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in FTAI Aviation during the second quarter worth about $37,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in FTAI Aviation during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

FTAI Aviation Price Performance

FTAI Aviation stock opened at $196.69 on Wednesday. The company has a current ratio of 5.28, a quick ratio of 2.07 and a debt-to-equity ratio of 8.55. The company has a 50-day moving average price of $212.93 and a 200 day moving average price of $240.51. FTAI Aviation Ltd. has a 12-month low of $149.50 and a 12-month high of $323.51. The stock has a market cap of $20.20 billion, a P/E ratio of 42.76, a PEG ratio of 0.98 and a beta of 1.51.

FTAI Aviation (NASDAQ:FTAI) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.19). FTAI Aviation had a net margin of 15.94% and a return on equity of 139.59%. The firm had revenue of $953.09 million during the quarter. During the same quarter last year, the firm earned $1.57 EPS. FTAI Aviation’s revenue was up 40.9% compared to the same quarter last year. Sell-side analysts anticipate that FTAI Aviation Ltd. will post 5.48 earnings per share for the current year.

FTAI Aviation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 12th. FTAI Aviation’s payout ratio is presently 43.48%.

Analysts Set New Price Targets

FTAI has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $290.00 price objective on shares of FTAI Aviation in a research note on Friday, July 31st. Royal Bank Of Canada dropped their price target on FTAI Aviation from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $325.00 price target on shares of FTAI Aviation in a report on Sunday, August 2nd. Morgan Stanley lifted their price objective on FTAI Aviation from $319.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Finally, Citizens Jmp started coverage on FTAI Aviation in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, FTAI Aviation has an average rating of “Moderate Buy” and a consensus price target of $320.11.

Insider Buying and Selling

In other FTAI Aviation news, President David Moreno acquired 2,475 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $201.27 per share, for a total transaction of $498,143.25. Following the completion of the acquisition, the president owned 199,490 shares of the company’s stock, valued at approximately $40,151,352.30. The trade was a 1.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.35% of the company’s stock.

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.