Navellier & Associates Inc. increased its stake in TAT Technologies Ltd. (NASDAQ:TATT – Free Report) by 158.7% in the second quarter, Holdings Channel reports. The institutional investor owned 30,092 shares of the aerospace company’s stock after acquiring an additional 18,458 shares during the period. Navellier & Associates Inc.’s holdings in TAT Technologies were worth $1,451,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Greenline Wealth Management LLC purchased a new stake in TAT Technologies in the 4th quarter worth about $41,000. Royal Bank of Canada boosted its holdings in TAT Technologies by 978.8% during 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 period. PNC Financial Services Group Inc. purchased a new position in TAT Technologies during the 3rd quarter valued at $53,000. Quantbot Technologies LP bought a new stake in shares of TAT Technologies during the third quarter worth $121,000. Finally, Osaic Holdings Inc. boosted its stake in shares of TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after purchasing an additional 4,474 shares during the period. 15.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on TATT. William Blair reaffirmed a “hold” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Benchmark reaffirmed a “buy” rating on shares of TAT Technologies in a research report on Tuesday. B. Riley Financial boosted their price target on TAT Technologies from $61.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded TAT Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $57.86.
TAT Technologies Stock Down 2.8%
TAT Technologies stock opened at $36.30 on Friday. The company has a quick ratio of 2.61, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The firm has a market cap of $471.90 million, a P/E ratio of 22.69 and a beta of 1.00. The business has a fifty day moving average of $41.66 and a two-hundred day moving average of $43.66. TAT Technologies Ltd. has a twelve month low of $31.52 and a twelve month high of $64.50.
TAT Technologies (NASDAQ:TATT – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $52.94 million during 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%. On average, analysts forecast that TAT Technologies Ltd. will post 1.39 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Paul Maness sold 5,000 shares of the business’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 transaction of $227,050.00. Following the completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.75% of the stock is currently owned by insiders.
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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