Weybosset Research & Management LLC has reduced its stake in FTAI Aviation Ltd. (NASDAQ: FTAI) by 4.1% during the third quarter of 2023, according to a recent filing with the U.S. Securities and Exchange Commission. The firm now holds 130,809 shares after selling 5,569 shares during this period. This adjustment positions FTAI Aviation as the third largest holding in Weybosset’s portfolio, valued at approximately $21.8 million.
Several other institutional investors have also recalibrated their holdings in FTAI Aviation, reflecting a broader trend among major stakeholders. Notably, Ieq Capital LLC increased its stake by an impressive 313.1% in the first quarter, acquiring an additional 9,112 shares to reach a total of 12,022 shares, now valued at $1.34 million. Similarly, Panagora Asset Management Inc. raised its holdings by 35.0%, adding 25,066 shares to hold a total of 96,596 shares worth approximately $10.7 million.
Another significant adjustment came from Appian Way Asset Management LP, which raised its position in FTAI Aviation by 601.8%, now owning 450,780 shares valued at around $50.05 million. The collective activity indicates that institutional investors and hedge funds now control 88.96% of FTAI Aviation’s stock.
Market Reactions and Analyst Ratings
In the wake of these adjustments, analysts have been busy reassessing their ratings for FTAI Aviation. On October 25, Wall Street Zen downgraded the stock from “buy” to “hold.” Conversely, BTIG Research reiterated a “buy” rating while setting a price target of $230.00. Barclays also raised its price target from $195.00 to $200.00 and assigned an “overweight” rating to the company.
Currently, FTAI Aviation has garnered a consensus rating of “Moderate Buy” among analysts, with an average target price of $203.63. The analyst landscape shows one “Strong Buy,” nine “Buy,” one “Hold,” and one “Sell” rating assigned to the stock.
On the market front, FTAI Aviation shares opened at $172.83 on the last trading day. The company boasts a market capitalization of $17.73 billion, a price-to-earnings ratio of 39.46, and a beta of 1.56. Over the past year, the stock has experienced significant volatility, with a 12-month low of $75.06 and a high of $194.36.
Financial Performance and Dividend Announcement
FTAI Aviation recently reported its quarterly earnings on October 27, revealing earnings per share (EPS) of $1.10. This figure fell short of analysts’ expectations, which had projected an EPS of $1.19. The company reported revenue of $667.06 million, slightly exceeding estimates of $662.51 million. The firm has shown a robust return on equity of 370.51% and a net margin of 20.82%, with quarterly revenue increasing by 43.2% year-over-year.
Additionally, FTAI Aviation announced a quarterly dividend of $0.35 per share, paid on November 19 to shareholders of record as of November 10. This translates to an annualized dividend of $1.40 and a yield of approximately 0.8%, with a dividend payout ratio of 31.96%.
In notable insider activity, Chief Operating Officer David Moreno acquired 4,354 shares on November 13 at an average price of $153.89 per share. This purchase, totaling approximately $670,037, represents a significant increase in his ownership stake.
FTAI Aviation Ltd. is a commercial aircraft leasing company focused on managing and leasing wide-body jet aircraft, primarily the fuel-efficient Boeing 767, 777, and 787 families. By concentrating on high-demand assets, FTAI aims to generate stable cash flows through lease rentals and maintenance reserve collections while offering flexible fleet solutions to airlines globally.
