Fred Alger Management LLC Boosts Holdings in FTAI Aviation Ltd. (NYSE:FTAI)

Fred Alger Management LLC grew its position in shares of FTAI Aviation Ltd. (NYSE:FTAI) by 34.7% in the third quarter, Holdings Channel reports. The firm owned 253,585 shares of the financial services provider’s stock after purchasing an additional 65,298 shares during the period. Fred Alger Management LLC’s holdings in FTAI Aviation were worth $33,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FTAI. Brown Brothers Harriman & Co. purchased a new stake in FTAI Aviation in the third quarter valued at approximately $26,000. Arcadia Investment Management Corp MI bought a new position in shares of FTAI Aviation in the 2nd quarter worth $33,000. Farther Finance Advisors LLC raised its position in shares of FTAI Aviation by 118.1% during 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 in the last quarter. Ridgewood Investments LLC bought a new stake in shares of FTAI Aviation during the 2nd quarter worth $59,000. Finally, Raymond James Trust N.A. bought a new stake in shares of FTAI Aviation during the 3rd quarter worth $200,000. Institutional investors own 88.96% of the company’s stock.

FTAI Aviation Trading Up 2.1 %

Shares of FTAI Aviation stock opened at $168.82 on Friday. FTAI Aviation Ltd. has a 12 month low of $40.29 and a 12 month high of $177.18. The firm has a market capitalization of $17.31 billion, a P/E ratio of -1,688.03 and a beta of 2.04. The business has a fifty day simple moving average of $147.58 and a two-hundred day simple moving average of $117.82.

FTAI Aviation (NYSE:FTAI) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.76 earnings per share 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 prior year, the business posted $0.33 EPS. FTAI Aviation’s revenue for the quarter was up 60.0% on a year-over-year basis. Analysts predict that FTAI Aviation Ltd. will post 2.21 earnings per share 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 given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, November 14th. FTAI Aviation’s dividend payout ratio (DPR) is presently -1,199.88%.

Analyst Ratings Changes

FTAI has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of FTAI Aviation in a report on Friday, November 1st. Benchmark lifted their price target on shares of FTAI Aviation from $150.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of FTAI Aviation from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of FTAI Aviation from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of FTAI Aviation to a “sell” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.09.

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.