New York State Common Retirement Fund Takes $10.15 Million Position in TAT Technologies Ltd. $TATT

New York State Common Retirement Fund acquired a new stake in TAT Technologies Ltd. (NASDAQ:TATT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 230,525 shares of the aerospace company’s stock, valued at approximately $10,150,000. New York State Common Retirement Fund owned 1.83% of TAT Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Meitav Investment House Ltd. increased its holdings in TAT Technologies by 61.7% in the second quarter. Meitav Investment House Ltd. now owns 1,454,618 shares of the aerospace company’s stock valued at $44,722,000 after buying an additional 555,286 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of TAT Technologies by 143.0% in the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock worth $23,858,000 after acquiring an additional 459,693 shares during the period. Boston Partners purchased a new position in TAT Technologies in the 2nd quarter valued at approximately $13,205,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in TAT Technologies in the 2nd quarter valued at approximately $11,025,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in TAT Technologies during the third quarter worth $8,869,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TATT has been the topic of several research reports. Freedom Capital raised TAT Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Truist Financial decreased their price objective on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Stifel Nicolaus increased their price objective on shares of TAT Technologies from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Jones Trading initiated coverage on shares of TAT Technologies in a research report on Friday, October 10th. They set a “buy” rating and a $50.00 target price for the company. Finally, Wall Street Zen raised shares of TAT Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $51.33.

TAT Technologies Price Performance

TAT Technologies stock opened at $48.72 on Wednesday. The stock has a market capitalization of $611.92 million, a P/E ratio of 36.63 and a beta of 0.93. TAT Technologies Ltd. has a 12-month low of $23.37 and a 12-month high of $54.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.44 and a quick ratio of 2.34. The firm’s 50-day moving average is $45.84 and its two-hundred day moving average is $41.11.

TAT Technologies (NASDAQ:TATT) last posted its quarterly earnings data on Wednesday, November 12th. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). TAT Technologies had a net margin of 9.08% and a return on equity of 11.10%. The firm had revenue of $46.24 million during the quarter, compared to analyst estimates of $46.27 million.

About TAT Technologies

TAT Technologies Ltd. is a global provider of environmental control and thermal management solutions for the aerospace industry. The company specializes in the design, manufacturing and support of aircraft environmental control systems (ECS), heat exchangers and related components. Its product portfolio serves commercial and military airframers, engine manufacturers and airlines, offering critical systems that regulate cabin pressure, temperature and ventilation on fixed-wing and rotary aircraft.

Key offerings include air cycle machines, preconditioned air units, steam/water separators and specialty heat exchangers engineered to meet stringent aerospace standards.