Principal Financial Group Inc. Reduces Position in FTAI Aviation Ltd. (NYSE:FTAI)

Principal Financial Group Inc. lowered its stake in FTAI Aviation Ltd. (NYSE:FTAI) by 25.1% in the 3rd quarter, Holdings Channel reports. The firm owned 61,323 shares of the financial services provider’s stock after selling 20,504 shares during the quarter. Principal Financial Group Inc.’s holdings in FTAI Aviation were worth $8,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. D.B. Root & Company LLC bought a new stake in FTAI Aviation during the third quarter valued at $221,000. Concurrent Investment Advisors LLC bought a new position in shares of FTAI Aviation in the third quarter worth approximately $498,000. Cannon Global Investment Management LLC bought a new position in shares of FTAI Aviation in the 3rd quarter worth $1,116,000. Harbor Capital Advisors Inc. grew its position in FTAI Aviation by 191.3% in the third quarter. Harbor Capital Advisors Inc. now owns 46,799 shares of the financial services provider’s stock worth $6,220,000 after acquiring an additional 30,731 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of FTAI Aviation by 118.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 349 shares of the financial services provider’s stock valued at $46,000 after buying an additional 189 shares in the last quarter. 88.96% of the stock is currently owned by institutional investors.

FTAI Aviation Stock Up 4.9 %

FTAI stock opened at $171.02 on Wednesday. The business has a 50 day moving average of $141.22 and a 200 day moving average of $113.86. The firm has a market cap of $17.54 billion, a PE ratio of -1,710.03 and a beta of 2.04. FTAI Aviation Ltd. has a twelve month low of $40.29 and a twelve month high of $171.36.

FTAI Aviation (NYSE:FTAI) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). The firm had revenue of $465.80 million during the quarter, compared to analysts’ expectations of $422.45 million. FTAI Aviation had a return on equity of 206.25% and a net margin of 1.59%. The firm’s quarterly revenue was up 60.0% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. On average, research analysts expect that FTAI Aviation Ltd. will post 2.2 earnings per share for the current fiscal year.

FTAI Aviation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.70%. FTAI Aviation’s dividend payout ratio (DPR) is presently -1,199.88%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JMP Securities increased their price target on shares of FTAI Aviation from $90.00 to $132.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Compass Point upped their price target on shares of FTAI Aviation from $118.00 to $156.00 and gave the company a “buy” rating in a report on Friday, September 27th. Benchmark increased their target price on shares of FTAI Aviation from $150.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price objective on shares of FTAI Aviation in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on shares of FTAI Aviation from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $162.09.

FTAI Aviation Company 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.