TAT Technologies Ltd. (NASDAQ:TATT – Get Free Report)’s share price shot up 8% during mid-day trading on Thursday . The company traded as high as $46.32 and last traded at $45.96. 108,361 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 184,621 shares. The stock had previously closed at $42.54.
Wall Street Analysts Forecast Growth
TATT has been the topic of several research analyst reports. Weiss Ratings lowered TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Benchmark lifted their price objective on TAT Technologies from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. B. Riley Financial began coverage on TAT Technologies in a research report on Wednesday, April 8th. They set a “buy” rating and a $61.00 target price on the stock. Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Truist Financial upgraded TAT Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $57.29.
Read Our Latest Analysis on TATT
TAT Technologies Stock Up 5.2%
TAT Technologies (NASDAQ:TATT – Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.07. The firm had revenue of $41.15 million during the quarter, compared to the consensus estimate of $40.25 million. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%. Sell-side analysts expect that TAT Technologies Ltd. will post 1.52 EPS for the current year.
Insider Buying and Selling at TAT Technologies
In other news, COO Jason Lewandowski sold 3,125 shares of the company’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 in the company, valued at $122,562.50. This 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 is available through the SEC website. Also, insider Paul Maness sold 5,000 shares of the stock in a transaction 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 sale, the insider directly owned 5,000 shares in the company, valued at approximately $227,050. 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 owned by corporate insiders.
Institutional Investors Weigh In On TAT Technologies
Several hedge funds have recently modified their holdings of TATT. Oak Ridge Investments LLC purchased a new position in shares of TAT Technologies during the fourth quarter valued at approximately $1,160,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in TAT Technologies by 92.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock worth $17,283,000 after acquiring an additional 185,574 shares during the last quarter. Next Century Growth Investors LLC purchased a new stake in TAT Technologies in the 4th quarter worth approximately $5,902,000. Calamos Advisors LLC grew its stake in TAT Technologies by 288.9% in the 4th quarter. Calamos Advisors LLC now owns 94,695 shares of the aerospace company’s stock worth $4,229,000 after acquiring an additional 70,345 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of TAT Technologies by 60.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 77,134 shares of the aerospace company’s stock worth $3,445,000 after purchasing an additional 28,935 shares during the period. 15.13% of the stock is owned by institutional investors and hedge funds.
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.
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