Sumitomo Mitsui Trust Group Inc. Acquires 191,693 Shares of FTAI Aviation Ltd. $FTAI

Sumitomo Mitsui Trust Group Inc. acquired a new stake in FTAI Aviation Ltd. (NASDAQ:FTAI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 191,693 shares of the financial services provider’s stock, valued at approximately $32,018,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of FTAI Aviation during the first quarter worth $52,160,000. National Pension Service raised its holdings in shares of FTAI Aviation by 3,066.6% in the second quarter. National Pension Service now owns 185,245 shares of the financial services provider’s stock valued at $50,114,000 after buying an additional 179,395 shares during the last quarter. Weybosset Research & Management LLC bought a new position in shares of FTAI Aviation in the third quarter valued at about $20,086,000. International Assets Investment Management LLC raised its holdings in shares of FTAI Aviation by 7,661.9% in the third quarter. International Assets Investment Management LLC now owns 108,744 shares of the financial services provider’s stock valued at $18,164,000 after buying an additional 107,343 shares during the last quarter. Finally, Generate Investment Management Ltd acquired a new position in FTAI Aviation during the 3rd quarter worth about $16,703,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

FTAI Aviation Price Performance

FTAI Aviation stock opened at $162.45 on Friday. The business’s 50-day simple moving average is $177.59 and its 200 day simple moving average is $230.54. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 0.89 and a beta of 1.55. FTAI Aviation Ltd. has a 12-month low of $146.48 and a 12-month high of $323.51. The company has a quick ratio of 2.07, a current ratio of 3.82 and a debt-to-equity ratio of 7.97.

FTAI Aviation (NASDAQ:FTAI) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.12. The firm had revenue of $977.66 million during the quarter. FTAI Aviation had a return on equity of 132.04% and a net margin of 15.46%. FTAI Aviation’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 earnings per share. As a group, research analysts anticipate that FTAI Aviation Ltd. will post 5.48 earnings per share for the current year.

FTAI Aviation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Tuesday, November 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 10th. FTAI Aviation’s dividend payout ratio (DPR) is 40.57%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTAI. Barclays reduced their price target on shares of FTAI Aviation from $350.00 to $310.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft set a $290.00 price objective on shares of FTAI Aviation in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $325.00 target price on shares of FTAI Aviation in a research note on Sunday, August 2nd. BTIG Research reduced their target price on shares of FTAI Aviation from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada reduced their target price on shares of FTAI Aviation from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.38.

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.