CenterBook Partners LP Sells 55,247 Shares of TAT Technologies Ltd. $TATT

CenterBook Partners LP cut its stake in shares of TAT Technologies Ltd. (NASDAQ:TATTFree Report) by 34.4% in the fourth quarter, HoldingsChannel reports. The fund owned 105,481 shares of the aerospace company’s stock after selling 55,247 shares during the period. CenterBook Partners LP’s holdings in TAT Technologies were worth $4,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Huntleigh Advisors Inc. grew its stake in shares of TAT Technologies by 5.4% during the 4th quarter. Huntleigh Advisors Inc. now owns 40,166 shares of the aerospace company’s stock valued at $1,794,000 after acquiring an additional 2,065 shares during the period. Calamos Advisors LLC grew its holdings in TAT Technologies by 288.9% during the 4th quarter. Calamos Advisors LLC now owns 94,695 shares of the aerospace company’s stock valued at $4,229,000 after buying an additional 70,345 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in TAT Technologies by 92.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock valued at $17,283,000 after buying an additional 185,574 shares in the last quarter. Oak Ridge Investments LLC bought a new stake in shares of TAT Technologies during the fourth quarter valued at approximately $1,160,000. Finally, Tower View Wealth Management LLC purchased a new position in shares of TAT Technologies in the fourth quarter worth $1,568,000. 15.13% of the stock is currently owned by institutional investors.

TAT Technologies Stock Performance

NASDAQ:TATT opened at $43.66 on Tuesday. The stock’s fifty day moving average is $38.96 and its 200 day moving average is $44.96. TAT Technologies Ltd. has a fifty-two week low of $25.52 and a fifty-two week high of $64.50. The firm has a market capitalization of $566.71 million, a PE ratio of 33.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.46 and a current ratio of 4.69.

TAT Technologies (NASDAQ:TATTGet Free Report) last released its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%.The company had revenue of $41.15 million for the quarter, compared to analyst estimates of $40.25 million. On average, sell-side analysts anticipate that TAT Technologies Ltd. will post 1.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jason Lewandowski sold 3,125 shares of the stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at approximately $122,562.50. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.75% of the company’s stock.

Analysts Set New Price Targets

TATT has been the subject of a number of research reports. Wall Street Zen lowered shares of TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings lowered shares of TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Truist Financial upgraded shares of TAT Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Benchmark upped their target price on shares of TAT Technologies from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $57.29.

Read Our Latest Research Report on TAT Technologies

About TAT Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for TAT Technologies (NASDAQ:TATT)

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