Sei Investments Co. Grows Stake in TAT Technologies Ltd. $TATT

Sei Investments Co. raised its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 91.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,366 shares of the aerospace company’s stock after purchasing an additional 18,799 shares during the period. Sei Investments Co. owned 0.30% of TAT Technologies worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of TATT. Greenline Wealth Management LLC purchased a new position in shares of TAT Technologies in the 4th quarter worth approximately $41,000. Royal Bank of Canada lifted its position in TAT Technologies by 978.8% in the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock worth $50,000 after buying an additional 1,018 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in TAT Technologies during the third quarter worth $53,000. Quantbot Technologies LP purchased a new position in TAT Technologies during the third quarter worth $121,000. Finally, Osaic Holdings Inc. increased its position in TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after acquiring an additional 4,474 shares during the last quarter. 15.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul Maness sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total value of $227,050.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at approximately $227,050. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jason Lewandowski sold 3,125 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $39.22, for a total value of $122,562.50. Following the sale, the chief operating officer directly owned 3,125 shares of the company’s stock, valued at approximately $122,562.50. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 8.75% of the company’s stock.

TAT Technologies Trading Down 0.7%

Shares of TAT Technologies stock opened at $39.37 on Tuesday. The company has a current ratio of 4.83, a quick ratio of 2.61 and a debt-to-equity ratio of 0.06. TAT Technologies Ltd. has a 12-month low of $30.35 and a 12-month high of $64.50. The firm’s 50 day simple moving average is $43.23 and its two-hundred day simple moving average is $44.80. The firm has a market capitalization of $511.81 million, a price-to-earnings ratio of 24.61 and a beta of 1.00.

TAT Technologies (NASDAQ:TATT) last issued its quarterly earnings data on Wednesday, August 5th. The aerospace company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. TAT Technologies had a return on equity of 9.84% and a net margin of 11.26%.The company had revenue of $52.94 million for the quarter, compared to analyst estimates of $44.86 million. Analysts predict that TAT Technologies Ltd. will post 1.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Truist Financial upgraded shares of TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. B. Riley Financial increased their price objective on shares of TAT Technologies from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research raised shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, William Blair reaffirmed a “hold” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, TAT Technologies has a consensus rating of “Moderate Buy” and an average price target of $57.86.

TAT Technologies Company Profile

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.