TAT Technologies (NASDAQ:TATT) Announces Quarterly Earnings Results

TAT Technologies (NASDAQ:TATT) announced its quarterly earnings results on Wednesday. The aerospace company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03), Zacks reports. TAT Technologies had a net margin of 8.21% and a return on equity of 10.90%.

TAT Technologies Stock Up 1.8%

Shares of TAT Technologies stock traded up $0.72 on Wednesday, hitting $40.06. The company had a trading volume of 166,581 shares, compared to its average volume of 143,367. TAT Technologies has a 1 year low of $18.87 and a 1 year high of $45.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. The stock has a 50 day moving average of $40.47 and a 200-day moving average of $34.76. The stock has a market capitalization of $503.35 million, a price-to-earnings ratio of 32.84 and a beta of 0.85.

Institutional Investors Weigh In On TAT Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its holdings in TAT Technologies by 143.0% during 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 last quarter. Marshall Wace LLP lifted its position in shares of TAT Technologies by 31.6% during the second quarter. Marshall Wace LLP now owns 80,987 shares of the aerospace company’s stock valued at $2,473,000 after purchasing an additional 19,428 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in TAT Technologies by 70.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 74,984 shares of the aerospace company’s stock worth $2,316,000 after purchasing an additional 31,104 shares during the last quarter. JPMorgan Chase & Co. grew its position in TAT Technologies by 470.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 69,618 shares of the aerospace company’s stock worth $2,126,000 after purchasing an additional 57,412 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in TAT Technologies by 713.2% in the 2nd quarter. Bank of America Corp DE now owns 56,085 shares of the aerospace company’s stock valued at $1,713,000 after buying an additional 49,188 shares during the last quarter. 15.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of TAT Technologies in a report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective for the company. Wall Street Zen raised TAT Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, August 17th. Zacks Research downgraded shares of TAT Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Truist Financial boosted their target price on shares of TAT Technologies from $35.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Jones Trading started coverage on TAT Technologies in a research note on Friday, October 10th. They issued a “buy” rating and a $50.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.60.

About TAT Technologies

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.