Gabelli Funds LLC Decreases Holdings in FTAI Aviation Ltd. $FTAI

Gabelli Funds LLC lessened its holdings in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 65.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,350 shares of the financial services provider’s stock after selling 32,650 shares during the period. Gabelli Funds LLC’s holdings in FTAI Aviation were worth $4,251,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in FTAI Aviation by 41.1% in the fourth quarter. Capital World Investors now owns 8,916,830 shares of the financial services provider’s stock valued at $1,755,290,000 after purchasing an additional 2,596,265 shares in the last quarter. Rubric Capital Management LP increased its stake in FTAI Aviation by 10.1% in the fourth quarter. Rubric Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock valued at $728,345,000 after purchasing an additional 339,447 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in FTAI Aviation by 10.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,350,625 shares of the financial services provider’s stock worth $462,721,000 after purchasing an additional 220,384 shares in the last quarter. Geode Capital Management LLC raised its holdings in FTAI Aviation by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,004,963 shares of the financial services provider’s stock worth $394,757,000 after purchasing an additional 71,271 shares in the last quarter. Finally, State Street Corp raised its holdings in FTAI Aviation by 1.2% during the fourth quarter. State Street Corp now owns 1,745,498 shares of the financial services provider’s stock worth $343,601,000 after purchasing an additional 20,378 shares in the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

Insiders Place Their Bets

In related news, Director Judith A. Hannaway sold 255 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total transaction of $64,741.95. Following the completion of the sale, the director owned 3,012 shares in the company, valued at $764,716.68. This represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Tuchman sold 143,584 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $242.44, for a total transaction of $34,810,504.96. Following the transaction, the director directly owned 236,302 shares in the company, valued at $57,289,056.88. The trade was a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 254,515 shares of company stock worth $61,599,445 over the last ninety days. Corporate insiders own 1.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $319.00 target price on shares of FTAI Aviation in a report on Friday, May 8th. BTIG Research lifted their price target on shares of FTAI Aviation from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of FTAI Aviation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Citizens Jmp started coverage on shares of FTAI Aviation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective for the company. Finally, Zacks Research downgraded shares of FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $334.38.

FTAI Aviation Price Performance

Shares of NASDAQ FTAI opened at $212.47 on Wednesday. The company has a current ratio of 5.24, a quick ratio of 2.48 and a debt-to-equity ratio of 8.00. FTAI Aviation Ltd. has a twelve month low of $113.43 and a twelve month high of $323.51. The stock has a 50 day moving average of $241.54 and a two-hundred day moving average of $254.28. The stock has a market cap of $21.80 billion, a P/E ratio of 42.16, a P/E/G ratio of 0.86 and a beta of 1.46.

FTAI Aviation (NASDAQ:FTAI) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.32). The firm had revenue of $830.70 million during the quarter. FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The company’s revenue for the quarter was up 65.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, research analysts forecast that FTAI Aviation Ltd. will post 6.77 earnings per share for the current year.

FTAI Aviation Company Profile

FTAI Aviation (NASDAQ: FTAI) is a commercial aircraft leasing company that acquires, manages and leases wide-body jet aircraft to airlines globally. The company’s portfolio is focused on modern, fuel-efficient Boeing models, including the 767, 777 and 787 families, which are deployed under long-term operating leases. By concentrating on in-demand wide-body assets, FTAI Aviation seeks to deliver stable cash flows through lease rentals and maintenance reserve collections while providing airlines with flexible fleet solutions.

In addition to lease origination, FTAI Aviation offers end-to-end asset management services.