Zweig DiMenna Associates LLC Sells 83,600 Shares of FTAI Aviation Ltd. $FTAI

Zweig DiMenna Associates LLC reduced its position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 60.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 54,600 shares of the financial services provider’s stock after selling 83,600 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in FTAI Aviation were worth $6,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtus Advisers LLC bought a new stake in shares of FTAI Aviation during the first quarter worth about $29,000. Parallel Advisors LLC lifted its stake in shares of FTAI Aviation by 78.5% in the second quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 135 shares during the period. Rossby Financial LCC acquired a new position in shares of FTAI Aviation in the first quarter worth approximately $45,000. GAMMA Investing LLC lifted its stake in shares of FTAI Aviation by 124.1% in the first quarter. GAMMA Investing LLC now owns 428 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 237 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of FTAI Aviation in the first quarter worth approximately $53,000. 88.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BTIG Research reissued a “buy” rating and issued a $230.00 price target on shares of FTAI Aviation in a research note on Monday, October 20th. Citigroup reiterated a “buy” rating on shares of FTAI Aviation in a report on Thursday, July 10th. Morgan Stanley upped their price objective on FTAI Aviation from $138.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Jones Trading initiated coverage on FTAI Aviation in a research note on Friday, October 10th. They set a “buy” rating and a $306.00 price target for the company. Finally, Zacks Research upgraded FTAI Aviation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, FTAI Aviation has an average rating of “Buy” and an average target price of $201.11.

FTAI Aviation Stock Performance

Shares of FTAI stock opened at $172.90 on Friday. The firm has a market cap of $17.73 billion, a P/E ratio of 39.47 and a beta of 1.70. FTAI Aviation Ltd. has a fifty-two week low of $75.06 and a fifty-two week high of $194.36. The business’s 50 day moving average price is $168.75 and its 200-day moving average price is $136.58.

FTAI Aviation (NASDAQ:FTAI) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.09). FTAI Aviation had a net margin of 20.82% and a return on equity of 370.51%. The firm had revenue of $667.06 million for the quarter, compared to the consensus estimate of $662.51 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 43.2% compared to the same quarter last year. As a group, equities analysts predict that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 10th. FTAI Aviation’s dividend payout ratio is presently 27.40%.

FTAI Aviation 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.