Diamond Hill Capital Management Inc. Sells 41,856 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

Diamond Hill Capital Management Inc. lowered its stake in FTAI Aviation Ltd. (NYSE:FTAI) by 42.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,645 shares of the financial services provider’s stock after selling 41,856 shares during the period. Diamond Hill Capital Management Inc.’s holdings in FTAI Aviation were worth $7,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in shares of FTAI Aviation in the 2nd quarter valued at $33,000. Farther Finance Advisors LLC raised its position in FTAI Aviation by 118.1% in the third quarter. Farther Finance Advisors LLC now owns 349 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 189 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of FTAI Aviation during the second quarter valued at about $59,000. EverSource Wealth Advisors LLC grew its holdings in shares of FTAI Aviation by 165.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,875 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 1,790 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new position in shares of FTAI Aviation in the second quarter valued at approximately $202,000. Institutional investors own 88.96% of the company’s stock.

Wall Street Analyst Weigh In

FTAI has been the topic of a number of research reports. StockNews.com raised shares of FTAI Aviation to a “sell” rating in a report on Friday, August 2nd. Compass Point boosted their price objective on shares of FTAI Aviation from $118.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JMP Securities increased their price objective on FTAI Aviation from $90.00 to $132.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Benchmark lifted their target price on FTAI Aviation from $150.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup upped their price target on FTAI Aviation from $134.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.09.

FTAI Aviation Price Performance

Shares of NYSE:FTAI opened at $164.68 on Tuesday. FTAI Aviation Ltd. has a 1 year low of $40.01 and a 1 year high of $165.84. The business’s 50-day moving average is $135.65 and its 200-day moving average is $110.10. The company has a market capitalization of $16.83 billion, a price-to-earnings ratio of -1,646.64 and a beta of 2.04.

FTAI Aviation (NYSE:FTAI) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The business had revenue of $465.80 million for the quarter, compared to the consensus estimate of $422.45 million. FTAI Aviation had a return on equity of 198.02% and a net margin of 1.59%. FTAI Aviation’s quarterly revenue was up 60.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. Analysts anticipate that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 14th. FTAI Aviation’s payout ratio is -1,199.88%.

About FTAI Aviation

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.