Biltmore Family Office LLC Sells 1,350 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

Biltmore Family Office LLC cut its stake in shares of FTAI Aviation Ltd. (NYSE:FTAI) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,678 shares of the financial services provider’s stock after selling 1,350 shares during the quarter. FTAI Aviation makes up approximately 1.1% of Biltmore Family Office LLC’s holdings, making the stock its 12th biggest position. Biltmore Family Office LLC’s holdings in FTAI Aviation were worth $6,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sara Bay Financial purchased a new stake in FTAI Aviation in the 4th quarter worth $547,000. Ibex Wealth Advisors bought a new position in shares of FTAI Aviation in the fourth quarter worth about $3,518,000. Luxor Capital Group LP purchased a new stake in shares of FTAI Aviation during the third quarter worth about $1,298,000. Rhumbline Advisers raised its stake in FTAI Aviation by 2.2% during the 4th quarter. Rhumbline Advisers now owns 142,072 shares of the financial services provider’s stock valued at $20,464,000 after purchasing an additional 3,121 shares during the period. Finally, SeaCrest Wealth Management LLC raised its stake in FTAI Aviation by 77.1% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,555 shares of the financial services provider’s stock valued at $944,000 after purchasing an additional 2,853 shares during the period. 88.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTAI. StockNews.com raised shares of FTAI Aviation to a “sell” rating in a report on Saturday, March 15th. Barclays raised their target price on shares of FTAI Aviation from $135.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup reiterated a “buy” rating on shares of FTAI Aviation in a research note on Thursday, March 6th. Compass Point raised their price objective on FTAI Aviation from $175.00 to $181.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 target price on shares of FTAI Aviation in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, FTAI Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $173.67.

FTAI Aviation Stock Performance

Shares of FTAI Aviation stock opened at $115.94 on Thursday. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of -1,159.28 and a beta of 1.78. The stock has a 50 day moving average price of $112.68 and a 200-day moving average price of $132.92. FTAI Aviation Ltd. has a one year low of $66.22 and a one year high of $181.64.

FTAI Aviation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, March 14th. FTAI Aviation’s payout ratio is -342.86%.

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.