Paul R. Goodwin, a director at FTAI Aviation Ltd. (NASDAQ:FTAI), recently sold 20,000 ordinary shares, generating approximately $3.49 million. The sale, executed on November 22, 2024, was conducted at a weighted average price of $174.36 per share, with individual transaction prices ranging from $173.68 to $174.99.
Following this transaction, Goodwin holds 93,413 ordinary shares indirectly through a trust. Additionally, he retains direct ownership of 32,362 Series A Preferred Shares.
FTAI Aviation, headquartered in New York, operates in the miscellaneous equipment rental and leasing sector.
In other recent news, Fortress Transportation (NASDAQ:FTAI) and its subsidiary FTAI Aviation have seen a series of developments. BTIG raised its price target for Fortress Transportation from $160 to $180, maintaining its Buy rating. Deutsche Bank (ETR:DBKGn) and Stifel also maintained Buy ratings, with price targets of $160 and $145, respectively. The upgrades come in light of the firm's strong earnings, surpassing Wall Street's expectations, and a raised outlook for 2024.
In a joint venture with Chromalloy, FTAI received Federal Aviation Administration approval for a key engine component, marking a significant step forward in manufacturing airfoil parts for engines. This approval could potentially double FTAI's EBITDA per engine module and reduce engine shop visit costs.
FTAI Aviation reported robust Q3 growth in 2024, with adjusted EBITDA reaching $232 million, an 8% increase from the previous quarter, and a 50% rise from the same period last year. The company's leasing segment and aerospace products contributed $136.4 million and $101.8 million to the EBITDA, respectively. A dividend of $0.30 per share was also announced.
The company has also been expanding, with increased production at its Montreal facility, onboarding of 19 new customers, and progression of the V2500 engine program. These recent developments highlight Fortress Transportation's robust business operations and promising outlook.
InvestingPro Insights
Following the recent insider sale by Director Paul R. Goodwin, investors may be keen to understand the broader financial context of FTAI Aviation Ltd. (NASDAQ:FTAI). According to InvestingPro data, FTAI has demonstrated remarkable performance, with a staggering 308.09% price total return over the past year. This impressive growth is further underscored by the company's 267.64% year-to-date return, positioning FTAI as a standout performer in its sector.
The company's financial metrics reveal a mixed picture. While FTAI has shown strong revenue growth of 36.77% over the last twelve months, with revenues reaching $1.55 billion, it's worth noting that the company was not profitable during this period. This aligns with an InvestingPro Tip indicating that net income is expected to drop this year.
Despite the profitability challenges, analysts remain optimistic about FTAI's prospects. An InvestingPro Tip highlights that analysts anticipate sales growth in the current year, and the company is expected to turn profitable. This positive outlook is supported by the fact that two analysts have revised their earnings upwards for the upcoming period.
Investors should be aware that FTAI is trading at high valuation multiples across various metrics, including EBIT, EBITDA, revenue, and Price/Book ratios. This suggests that the market has priced in significant growth expectations, which aligns with the company's recent stock performance.
For those seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for FTAI, providing a deeper dive into the company's financial health and market position. These insights can be particularly valuable given the stock's volatile price movements and its current trading level at 97.05% of its 52-week high.
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