CenterBook Partners LP Acquires 38,146 Shares of FTAI Aviation Ltd. $FTAI

CenterBook Partners LP boosted its stake in FTAI Aviation Ltd. (NASDAQ:FTAI) by 69.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,225 shares of the financial services provider’s stock after buying an additional 38,146 shares during the period. FTAI Aviation accounts for 0.7% of CenterBook Partners LP’s portfolio, making the stock its 22nd biggest holding. CenterBook Partners LP’s holdings in FTAI Aviation were worth $15,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of FTAI. MassMutual Private Wealth & Trust FSB bought a new stake in FTAI Aviation in the third quarter worth about $25,000. Root Financial Partners LLC acquired a new position in FTAI Aviation in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. boosted its position in shares of FTAI Aviation by 142.2% in the first quarter. Meeder Asset Management Inc. now owns 109 shares of the financial services provider’s stock worth $27,000 after buying an additional 64 shares during the period. SBI Securities Co. Ltd. boosted its position in FTAI Aviation by 55.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 179 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 64 shares during the period. Finally, Ancora Advisors LLC purchased a new position in FTAI Aviation during the second quarter valued at approximately $32,000. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTAI has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of FTAI Aviation in a research note on Friday, October 30th. Barclays lowered their target price on shares of FTAI Aviation from $350.00 to $310.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft set a $290.00 price target on FTAI Aviation in a report on Friday, July 31st. Royal Bank Of Canada cut their price objective on shares of FTAI Aviation from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $325.00 target price on shares of FTAI Aviation in a research report on Sunday, August 2nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $304.38.

FTAI Aviation Trading Up 11.0%

FTAI stock traded up $17.82 during midday trading on Friday, reaching $180.27. The company’s stock had a trading volume of 3,209,878 shares, compared to its average volume of 2,077,379. The company has a quick ratio of 2.07, a current ratio of 5.28 and a debt-to-equity ratio of 8.55. FTAI Aviation Ltd. has a 52 week low of $146.48 and a 52 week high of $323.51. The business’s 50-day simple moving average is $177.21 and its 200-day simple moving average is $230.04. The stock has a market cap of $18.52 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55.

FTAI Aviation (NASDAQ:FTAI) last posted its earnings results on Thursday, October 29th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The company had revenue of $977.66 million for the quarter. FTAI Aviation had a net margin of 15.46% and a return on equity of 135.72%. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. As a group, sell-side analysts expect that FTAI Aviation Ltd. will post 5.37 EPS for the current year.

FTAI Aviation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Tuesday, November 10th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $2.00 annualized dividend and a yield of 1.1%. FTAI Aviation’s payout ratio is presently 40.57%.

FTAI Aviation Company Profile

FTAI Aviation Ltd. is an aviation-focused company that owns, acquires, leases and sells commercial aircraft engines, aircraft and related aviation assets. Its portfolio primarily supports the global narrowbody aircraft market, with a particular focus on widely used engine platforms such as the CFM56 and V2500.

The company provides engine leasing solutions to airlines, aircraft leasing companies and other aviation customers. It also supplies aviation parts and materials and offers maintenance, repair and overhaul-related services.