21,380 Shares in TAT Technologies Ltd. $TATT Bought by Valmark Advisers Inc.

Key Points

• Valmark Advisers Inc. acquired 21,380 shares of TAT Technologies Ltd., valued at approximately $653,000, increasing its stake to 0.17% of the company.
• Analysts have expressed a positive outlook on TAT Technologies, with ratings varying from "buy" to "strong-buy," and an average target price of $38.00.
• TAT Technologies reported quarterly earnings of $0.30 per share, surpassing expectations, despite revenues of $43.10 million falling short of the forecast.

Valmark Advisers Inc. acquired a new position in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,380 shares of the aerospace company's stock, valued at approximately $653,000. Valmark Advisers Inc. owned about 0.17% of TAT Technologies at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TATT. Meitav Investment House Ltd. lifted its stake in TAT Technologies by 61.7% in the second quarter. Meitav Investment House Ltd. now owns 1,454,618 shares of the aerospace company's stock valued at $44,722,000 after buying an additional 555,286 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in TAT Technologies in the first quarter valued at $207,000. Jane Street Group LLC lifted its stake in 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. Cubist Systematic Strategies LLC bought a new stake in TAT Technologies in the first quarter valued at $273,000. Finally, Virtus Advisers LLC bought a new stake in TAT Technologies in the first quarter valued at $45,000. 15.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TATT has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on TAT Technologies in a report on Tuesday, September 16th. They set a "buy" rating and a $44.00 price target on the stock. Weiss Ratings lowered TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Zacks Research raised TAT Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Lake Street Capital initiated coverage on TAT Technologies in a report on Wednesday, June 18th. They set a "buy" rating and a $37.00 price target on the stock. Finally, Wall Street Zen raised TAT Technologies from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, TAT Technologies presently has an average rating of "Buy" and a consensus target price of $38.00.

TAT Technologies Trading Down 4.6%

Shares of TATT opened at $42.69 on Friday. The business's 50-day moving average price is $38.28 and its 200 day moving average price is $32.43. The stock has a market capitalization of $536.19 million, a P/E ratio of 34.99 and a beta of 0.91. TAT Technologies Ltd. has a 1-year low of $17.02 and a 1-year high of $45.40. The company has a current ratio of 4.67, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06.

TAT Technologies (NASDAQ:TATT - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. The firm had revenue of $43.10 million for the quarter, compared to analysts' expectations of $43.85 million. TAT Technologies had a return on equity of 10.90% and a net margin of 8.21%.

TAT Technologies Profile

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.