Renaissance Technologies LLC lifted its holdings in TAT Technologies Ltd. (NASDAQ:TATT – Free Report) by 14.9% during the 1st quarter, Holdings Channel reports. The fund owned 203,402 shares of the aerospace company’s stock after acquiring an additional 26,400 shares during the quarter. Renaissance Technologies LLC’s holdings in TAT Technologies were worth $8,264,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Morgan Dempsey Capital Management LLC increased its holdings in TAT Technologies by 10.4% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company’s stock valued at $382,000 after purchasing an additional 888 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in TAT Technologies in the fourth quarter worth $41,000. Royal Bank of Canada boosted its stake 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 purchasing an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of TAT Technologies during the third quarter worth $53,000. Finally, Fred Alger Management LLC grew its holdings in shares of TAT Technologies by 12.4% during the fourth quarter. Fred Alger Management LLC now owns 11,640 shares of the aerospace company’s stock worth $520,000 after purchasing an additional 1,280 shares during the last quarter. 15.13% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other TAT Technologies news, insider Paul Maness sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total value of $227,050.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $227,050. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason Lewandowski sold 3,125 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total transaction of $122,562.50. Following the sale, the chief operating officer owned 3,125 shares of the company’s stock, valued at $122,562.50. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.75% of the stock is currently owned by company insiders.
TAT Technologies Trading Up 0.9%
TAT Technologies (NASDAQ:TATT – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The aerospace company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $41.15 million during the quarter, compared to analyst estimates of $40.25 million. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%. As a group, research analysts predict that TAT Technologies Ltd. will post 1.52 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently issued reports on TATT. Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. William Blair reissued a “hold” rating on shares of TAT Technologies in a report on Wednesday, July 15th. Weiss Ratings cut shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Truist Financial raised shares of TAT Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Benchmark reiterated a “buy” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $57.29.
Check Out Our Latest Analysis on TATT
TAT Technologies 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.
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