Clal Insurance Enterprises Holdings Ltd Acquires 95,756 Shares of TAT Technologies Ltd. $TATT

Clal Insurance Enterprises Holdings Ltd raised its holdings in TAT Technologies Ltd. (NASDAQ:TATT) by 26.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,640 shares of the aerospace company’s stock after purchasing an additional 95,756 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in TAT Technologies were worth $18,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Greenline Wealth Management LLC bought a new position in shares of TAT Technologies during the 4th quarter worth $41,000. Royal Bank of Canada increased 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 worth $50,000 after acquiring an additional 1,018 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of TAT Technologies in the third quarter worth $53,000. Quantbot Technologies LP purchased a new stake in shares of TAT Technologies in the 3rd quarter valued at about $121,000. Finally, Osaic Holdings Inc. raised its holdings in shares of TAT Technologies by 470.9% in the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after acquiring an additional 4,474 shares in the last quarter. Institutional investors own 15.13% of the company’s stock.

Analyst Upgrades and Downgrades

TATT has been the subject of several recent analyst reports. William Blair reissued a “hold” rating on shares of TAT Technologies in a report on Wednesday, July 15th. B. Riley Financial started coverage on shares of TAT Technologies in a research note on Wednesday, April 8th. They issued a “buy” rating and a $61.00 target price on the stock. Truist Financial upgraded shares of TAT Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Benchmark reissued a “buy” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $57.29.

Insiders Place Their Bets

In other TAT Technologies news, COO Jason Lewandowski sold 3,125 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total transaction of $122,562.50. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Maness sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total value of $227,050.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. 8.75% of the stock is owned by company insiders.

TAT Technologies Trading Up 2.3%

TATT stock opened at $40.72 on Wednesday. The company has a market capitalization of $528.67 million, a PE ratio of 31.57 and a beta of 0.98. 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 Ltd. has a one year low of $30.35 and a one year high of $64.50. The company’s 50 day moving average price is $42.20 and its two-hundred day moving average price is $45.78.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings data on Thursday, May 21st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $40.25 million. As a group, analysts predict that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.

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.