Paul Maness Sells 5,000 Shares of TAT Technologies (NASDAQ:TATT) Stock

TAT Technologies Ltd. (NASDAQ:TATT) 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 completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $227,050. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

TAT Technologies Stock Down 6.7%

TAT Technologies stock traded down $3.11 during midday trading on Monday, reaching $43.65. The company’s stock had a trading volume of 173,448 shares, compared to its average volume of 187,123. TAT Technologies Ltd. has a fifty-two week low of $26.12 and a fifty-two week high of $64.50. The company has a quick ratio of 2.46, a current ratio of 4.69 and a debt-to-equity ratio of 0.05. The company has a market cap of $566.58 million, a P/E ratio of 33.84 and a beta of 1.00. The business has a 50-day simple moving average of $39.70 and a 200-day simple moving average of $45.35.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The company 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%. On average, research analysts expect that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TATT. Weiss Ratings downgraded TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Truist Financial raised shares of TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. B. Riley Financial started coverage on shares of TAT Technologies in a research report on Wednesday, April 8th. They set a “buy” rating and a $61.00 price objective for the company. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Benchmark lifted their price target on shares of TAT Technologies from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $57.29.

Hedge Funds Weigh In On TAT Technologies

A number of institutional investors have recently modified their holdings of TATT. Goldman Sachs Group Inc. acquired a new stake in TAT Technologies during the 1st quarter worth $207,000. Jane Street Group LLC raised its holdings in shares of TAT Technologies by 125.8% in the first quarter. Jane Street Group LLC now owns 32,344 shares of the aerospace company’s stock valued at $889,000 after buying an additional 18,020 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TAT Technologies by 470.4% during the second quarter. JPMorgan Chase & Co. now owns 69,618 shares of the aerospace company’s stock worth $2,126,000 after buying an additional 57,412 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 buying an additional 31,104 shares during the last quarter. Finally, Walleye Capital LLC increased its position in TAT Technologies by 49.1% in the 2nd quarter. Walleye Capital LLC now owns 12,343 shares of the aerospace company’s stock valued at $377,000 after acquiring an additional 4,062 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.