TAT Technologies Ltd. $TATT Stock Holdings Lessened by Wasatch Advisors LP

Wasatch Advisors LP cut its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 19.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 569,080 shares of the aerospace company’s stock after selling 141,684 shares during the quarter. Wasatch Advisors LP’s holdings in TAT Technologies were worth $23,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Oak Ridge Investments LLC purchased a new position in TAT Technologies during the 4th quarter worth approximately $1,160,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of TAT Technologies by 92.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock valued at $17,283,000 after purchasing an additional 185,574 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of TAT Technologies in the fourth quarter worth $5,902,000. Calamos Advisors LLC boosted its position in shares of TAT Technologies by 288.9% in the fourth quarter. Calamos Advisors LLC now owns 94,695 shares of the aerospace company’s stock worth $4,229,000 after buying an additional 70,345 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of TAT Technologies by 60.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 77,134 shares of the aerospace company’s stock valued at $3,445,000 after buying an additional 28,935 shares in the last quarter. 15.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on TATT. Stifel Nicolaus upped their price target on TAT Technologies from $47.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. B. Riley Financial initiated coverage on TAT Technologies in a report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 target price on the stock. Weiss Ratings downgraded TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Finally, Benchmark increased their price target 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 equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $57.29.

Insider Buying and Selling at TAT Technologies

In related news, COO Jason Lewandowski sold 3,125 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the completion of the sale, the chief operating officer directly owned 3,125 shares in the company, valued at approximately $122,562.50. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Maness sold 5,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the transaction, the insider directly owned 5,000 shares in the company, valued at $227,050. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.75% of the stock is currently owned by insiders.

TAT Technologies Price Performance

NASDAQ TATT opened at $46.76 on Friday. 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 stock has a market capitalization of $606.94 million, a PE ratio of 36.25 and a beta of 1.00. The company has a 50 day moving average price of $39.69 and a two-hundred day moving average price of $45.45. TAT Technologies Ltd. has a 12-month low of $29.22 and a 12-month high of $64.50.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.19 by $0.07. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. The company had revenue of $41.15 million for the quarter, compared to analyst estimates of $40.25 million. As a group, equities analysts predict that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.

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.