Bank of America Corp DE Sells 13,524 Shares of FTAI Aviation Ltd. (NYSE:FTAI)

Bank of America Corp DE decreased its holdings in shares of FTAI Aviation Ltd. (NYSE:FTAI) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 414,496 shares of the financial services provider’s stock after selling 13,524 shares during the period. Bank of America Corp DE’s holdings in FTAI Aviation were worth $59,704,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FTAI. Sara Bay Financial purchased a new position in FTAI Aviation in the fourth quarter worth about $547,000. Ibex Wealth Advisors bought a new stake in shares of FTAI Aviation in the 4th quarter worth $3,518,000. Rhumbline Advisers raised its stake in shares of FTAI Aviation by 2.2% in the fourth quarter. Rhumbline Advisers now owns 142,072 shares of the financial services provider’s stock worth $20,464,000 after purchasing an additional 3,121 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of FTAI Aviation by 77.1% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,555 shares of the financial services provider’s stock valued at $944,000 after purchasing an additional 2,853 shares in the last quarter. Finally, Verde Servicos Internacionais S.A. purchased a new stake in shares of FTAI Aviation during the fourth quarter valued at $9,776,000. 88.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other FTAI Aviation news, insider Stacy Kuperus bought 1,087 shares of the stock in a transaction on Friday, May 2nd. The shares were bought at an average price of $92.90 per share, with a total value of $100,982.30. Following the purchase, the insider now directly owns 88,423 shares in the company, valued at $8,214,496.70. This trade represents a 1.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David Moreno purchased 6,580 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average price of $94.85 per share, for a total transaction of $624,113.00. Following the completion of the transaction, the chief operating officer now directly owns 231,623 shares of the company’s stock, valued at $21,969,441.55. The trade was a 2.92% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 10,667 shares of company stock worth $1,008,715 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

FTAI Aviation Trading Up 4.3%

NYSE FTAI opened at $117.81 on Wednesday. The company has a fifty day simple moving average of $103.25 and a two-hundred day simple moving average of $124.92. FTAI Aviation Ltd. has a 12-month low of $75.06 and a 12-month high of $181.64. The stock has a market cap of $12.08 billion, a P/E ratio of -1,177.98 and a beta of 1.64.

FTAI Aviation (NYSE:FTAI) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.08). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. During the same period in the previous year, the business posted $0.31 EPS. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. As a group, sell-side analysts forecast that FTAI Aviation Ltd. will post 2.2 earnings per share for the current year.

FTAI Aviation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, May 16th. FTAI Aviation’s payout ratio is currently 571.43%.

Analyst Ratings Changes

A number of analysts have recently commented on FTAI shares. Morgan Stanley reduced their price target on shares of FTAI Aviation from $168.00 to $138.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Royal Bank of Canada cut their target price on shares of FTAI Aviation from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Barclays decreased their target price on shares of FTAI Aviation from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Citizens Jmp upgraded FTAI Aviation to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus upgraded FTAI Aviation from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.83.

About FTAI Aviation

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.