Lord Abbett & CO. LLC Sells 102,823 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

Lord Abbett & CO. LLC lessened its stake in FTAI Aviation Ltd. (NYSE:FTAI) by 17.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 491,615 shares of the financial services provider’s stock after selling 102,823 shares during the quarter. Lord Abbett & CO. LLC’s holdings in FTAI Aviation were worth $65,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in FTAI Aviation by 102.8% in the 3rd quarter. Franklin Resources Inc. now owns 411,476 shares of the financial services provider’s stock valued at $54,685,000 after purchasing an additional 208,613 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of FTAI Aviation by 64.7% during the 3rd quarter. Tidal Investments LLC now owns 23,652 shares of the financial services provider’s stock worth $3,143,000 after acquiring an additional 9,293 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of FTAI Aviation during the 3rd quarter worth approximately $478,000. Anchor Investment Management LLC bought a new stake in FTAI Aviation in the 3rd quarter valued at $31,000. Finally, Arete Wealth Advisors LLC acquired a new stake in FTAI Aviation during the 3rd quarter valued at $294,000. 88.96% of the stock is owned by institutional investors.

FTAI Aviation Price Performance

Shares of NYSE FTAI opened at $131.72 on Friday. The business has a fifty day moving average price of $152.48 and a two-hundred day moving average price of $123.70. The stock has a market capitalization of $13.51 billion, a PE ratio of -1,317.07 and a beta of 2.06. FTAI Aviation Ltd. has a fifty-two week low of $44.15 and a fifty-two week high of $177.18.

FTAI Aviation (NYSE:FTAI) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). FTAI Aviation had a return on equity of 206.25% and a net margin of 1.59%. The company had revenue of $465.80 million during the quarter, compared to the consensus estimate of $422.45 million. During the same quarter in the previous year, the business posted $0.33 EPS. The firm’s revenue for the quarter was up 60.0% on a year-over-year basis. On average, equities analysts expect that FTAI Aviation Ltd. will post 2.21 EPS for the current year.

FTAI Aviation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, November 14th. FTAI Aviation’s payout ratio is presently -1,199.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on FTAI shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of FTAI Aviation in a report on Friday, November 1st. Benchmark boosted their price objective on FTAI Aviation from $150.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BTIG Research began coverage on FTAI Aviation in a research report on Monday, August 26th. They issued a “buy” rating and a $140.00 target price on the stock. Citigroup lifted their price target on FTAI Aviation from $134.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Barclays upped their price objective on FTAI Aviation from $135.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Two equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.18.

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.