Steel Grove Capital Advisors LLC Invests $336,000 in FTAI Aviation Ltd. (NYSE:FTAI)

Steel Grove Capital Advisors LLC purchased a new stake in FTAI Aviation Ltd. (NYSE:FTAI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the financial services provider’s stock, valued at approximately $336,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in FTAI Aviation by 6.3% in the first quarter. Vanguard Group Inc. now owns 9,040,503 shares of the financial services provider’s stock valued at $608,426,000 after acquiring an additional 533,381 shares during the last quarter. Capital International Investors acquired a new position in shares of FTAI Aviation during the 1st quarter worth $274,052,000. CIBC Private Wealth Group LLC lifted its position in shares of FTAI Aviation by 90.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,858,682 shares of the financial services provider’s stock worth $132,643,000 after buying an additional 1,359,302 shares during the last quarter. Norges Bank bought a new stake in shares of FTAI Aviation during the 4th quarter worth $55,039,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in FTAI Aviation by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,042,325 shares of the financial services provider’s stock valued at $48,364,000 after buying an additional 71,904 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joseph P. Jr. Adams bought 59,000 shares of FTAI Aviation stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $82.00 per share, for a total transaction of $4,838,000.00. Following the purchase, the chief executive officer now directly owns 197,382 shares in the company, valued at approximately $16,185,324. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

FTAI Aviation Stock Performance

Shares of NYSE:FTAI traded up $7.30 during midday trading on Friday, reaching $112.63. The company’s stock had a trading volume of 2,386,326 shares, compared to its average volume of 1,359,151. The firm has a 50 day moving average price of $94.13 and a two-hundred day moving average price of $73.53. FTAI Aviation Ltd. has a fifty-two week low of $31.73 and a fifty-two week high of $115.00. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 51.43 and a beta of 2.03.

FTAI Aviation (NYSE:FTAI) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.06). The company had revenue of $326.70 million for the quarter, compared to analyst estimates of $302.07 million. FTAI Aviation had a positive return on equity of 156.50% and a negative net margin of 1.50%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. As a group, research analysts anticipate that FTAI Aviation Ltd. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTAI. Stifel Nicolaus raised shares of FTAI Aviation from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $132.00 in a report on Friday. StockNews.com upgraded shares of FTAI Aviation to a “sell” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $100.00 price target on shares of FTAI Aviation in a report on Wednesday. Jefferies Financial Group started coverage on FTAI Aviation in a research note on Tuesday, June 25th. They issued a “buy” rating and a $120.00 price target for the company. Finally, Morgan Stanley upped their target price on FTAI Aviation from $85.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.23.

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.