Wasatch Advisors LP Buys 199,622 Shares of TAT Technologies Ltd. $TATT

Wasatch Advisors LP raised its stake in TAT Technologies Ltd. (NASDAQ:TATT) by 35.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 768,702 shares of the aerospace company’s stock after buying an additional 199,622 shares during the period. Wasatch Advisors LP owned approximately 0.06% of TAT Technologies worth $37,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TATT. Greenline Wealth Management LLC acquired a new position in shares of TAT Technologies during the fourth quarter worth $41,000. Royal Bank of Canada lifted its stake in shares of TAT Technologies by 978.8% in the 4th quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 1,018 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of TAT Technologies during the 3rd quarter valued at $53,000. Quantbot Technologies LP acquired a new stake in shares of TAT Technologies during the 3rd quarter valued at $121,000. Finally, Osaic Holdings Inc. grew its position in TAT Technologies by 470.9% during the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock worth $166,000 after acquiring an additional 4,474 shares during the last quarter. Institutional investors own 15.13% of the company’s stock.

Insider Buying and Selling at TAT Technologies

In other news, COO Jason Lewandowski sold 3,125 shares of TAT Technologies stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the completion of the sale, the chief operating officer owned 3,125 shares in the company, valued at $122,562.50. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Maness sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total transaction of $227,050.00. Following the transaction, the insider owned 5,000 shares in the company, valued at $227,050. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TATT shares. Weiss Ratings cut TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. William Blair restated a “hold” rating on shares of TAT Technologies in a report on Wednesday, July 15th. Benchmark reaffirmed a “buy” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Finally, Truist Financial upgraded shares of TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.86.

TAT Technologies Trading Down 4.1%

NASDAQ TATT opened at $37.74 on Wednesday. The stock has a market capitalization of $490.62 million, a P/E ratio of 23.59 and a beta of 1.00. The business has a 50 day simple moving average of $43.18 and a 200 day simple moving average of $44.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.61. TAT Technologies Ltd. has a one year low of $30.35 and a one year high of $64.50.

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

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.