Fred Alger Management LLC Buys 65,298 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

Fred Alger Management LLC boosted its stake in FTAI Aviation Ltd. (NYSE:FTAI) by 34.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,585 shares of the financial services provider’s stock after purchasing an additional 65,298 shares during the quarter. Fred Alger Management LLC owned about 0.25% of FTAI Aviation worth $33,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTAI. Brown Brothers Harriman & Co. purchased a new stake in shares of FTAI Aviation in the third quarter worth approximately $26,000. Arcadia Investment Management Corp MI bought a new stake in FTAI Aviation during the second quarter worth $33,000. Farther Finance Advisors LLC raised its position in FTAI Aviation by 118.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 349 shares of the financial services provider’s stock valued at $46,000 after buying an additional 189 shares during the last quarter. Ridgewood Investments LLC bought a new position in FTAI Aviation during the 2nd quarter valued at $59,000. Finally, Raymond James Trust N.A. purchased a new position in FTAI Aviation during the 3rd quarter worth $200,000. 88.96% of the stock is owned by institutional investors.

FTAI Aviation Stock Up 2.1 %

NYSE FTAI opened at $168.82 on Friday. The firm has a market cap of $17.31 billion, a P/E ratio of -1,688.03 and a beta of 2.04. The company’s 50 day moving average is $147.58 and its 200-day moving average is $117.82. FTAI Aviation Ltd. has a 12-month low of $40.29 and a 12-month high of $177.18.

FTAI Aviation (NYSE:FTAI) last issued its 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). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. The business had revenue of $465.80 million for the quarter, compared to the consensus estimate of $422.45 million. During the same period in the previous year, the firm earned $0.33 EPS. The company’s revenue was up 60.0% compared to the same quarter last year. Equities analysts expect that FTAI Aviation Ltd. will post 2.21 EPS for the current year.

FTAI Aviation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. FTAI Aviation’s dividend payout ratio (DPR) is -1,199.88%.

Analyst Ratings Changes

Several equities research analysts have commented on FTAI shares. BTIG Research initiated coverage on shares of FTAI Aviation in a research note on Monday, August 26th. They issued a “buy” rating and a $140.00 price objective for the company. Jefferies Financial Group increased their price target on FTAI Aviation from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on FTAI Aviation from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Benchmark raised their target price on FTAI Aviation from $150.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup boosted their price target on shares of FTAI Aviation from $134.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, FTAI Aviation presently has an average rating of “Moderate Buy” and an average target price of $162.09.

FTAI Aviation Company Profile

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.