Renaissance Technologies LLC Has $8.26 Million Stock Position in TAT Technologies Ltd. $TATT

Renaissance Technologies LLC boosted its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,402 shares of the aerospace company’s stock after purchasing an additional 26,400 shares during the quarter. Renaissance Technologies LLC owned 1.57% of TAT Technologies worth $8,264,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Greenline Wealth Management LLC bought a new position in shares of TAT Technologies during the 4th quarter worth about $41,000. Royal Bank of Canada lifted its stake in shares of TAT Technologies by 978.8% in the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock valued at $50,000 after buying an additional 1,018 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of TAT Technologies in the third quarter valued at about $53,000. Quantbot Technologies LP acquired a new stake in TAT Technologies during the third quarter worth about $121,000. Finally, Osaic Holdings Inc. increased its stake in 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 acquiring an additional 4,474 shares during the period. 15.13% of the stock is owned by institutional investors.

Insider Buying and Selling at TAT Technologies

In other TAT Technologies 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 SEC, which is available at this hyperlink. 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 value of $227,050.00. Following the transaction, the insider owned 5,000 shares of the company’s stock, valued at $227,050. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on TATT shares. Truist Financial upgraded TAT Technologies to a “strong-buy” rating in a research report on Friday, May 1st. B. Riley Financial assumed coverage on TAT Technologies in a research report on Wednesday, April 8th. They set a “buy” rating and a $61.00 price objective on the stock. Benchmark restated a “buy” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Weiss Ratings cut TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $57.29.

TAT Technologies Stock Up 0.9%

Shares of TATT opened at $39.25 on Tuesday. 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 50-day moving average price of $43.31 and a two-hundred day moving average price of $45.21. The stock has a market cap of $510.25 million, a price-to-earnings ratio of 30.43 and a beta of 1.00. TAT Technologies Ltd. has a 12 month low of $30.35 and a 12 month high of $64.50.

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

TAT Technologies Company 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.