25,946 Shares in TAT Technologies Ltd. $TATT Bought by Walleye Capital LLC

Key Points

• Walleye Capital initiated a new position in TAT Technologies, buying 25,946 shares worth about $1.05 million; several other large institutions also increased or added to their stakes.
• TAT Technologies reported better-than-expected quarterly results, with EPS of $0.26 versus estimates of $0.19 and revenue of $41.15 million versus $40.25 million expected.
• Analyst sentiment remains generally positive, with a consensus Buy rating and an average price target of $57.29, even as a few recent insider sales were disclosed.

Walleye Capital LLC purchased a new position in TAT Technologies Ltd. (NASDAQ:TATT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,946 shares of the aerospace company's stock, valued at approximately $1,054,000. Walleye Capital LLC owned 0.20% of TAT Technologies at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in shares of TAT Technologies during the first quarter valued at about $207,000. Jane Street Group LLC increased its position in TAT Technologies by 125.8% in the 1st 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 in the last quarter. JPMorgan Chase & Co. raised its stake in TAT Technologies by 470.4% during the 2nd 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 raised its stake in TAT Technologies by 70.9% during the 2nd 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 period. Finally, Marshall Wace LLP boosted its holdings in TAT Technologies by 31.6% in the second quarter. Marshall Wace LLP now owns 80,987 shares of the aerospace company's stock worth $2,473,000 after acquiring an additional 19,428 shares in the last quarter. Institutional investors and hedge funds own 15.13% of the company's stock.

TAT Technologies Price Performance

TAT Technologies stock opened at $41.83 on Friday. TAT Technologies Ltd. has a 52 week low of $30.35 and a 52 week high of $64.50. The company's 50 day moving average price is $42.73 and its two-hundred day moving average price is $45.70. The stock has a market cap of $543.08 million, a P/E ratio of 32.43 and a beta of 0.98. The company has a quick ratio of 2.46, a current ratio of 4.69 and a debt-to-equity ratio of 0.05.

TAT Technologies (NASDAQ:TATT - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 EPS for the quarter, beating 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, equities analysts predict that TAT Technologies Ltd. will post 1.52 earnings per share for the current year.

Insider Buying and Selling at TAT Technologies

In related news, COO Jason Lewandowski sold 3,125 shares of the 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 transaction, the chief operating officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Maness sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the sale, the insider owned 5,000 shares of the company's stock, valued at $227,050. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TATT shares. Benchmark reaffirmed a "buy" rating on shares of TAT Technologies in a research report on Wednesday, July 15th. William Blair reaffirmed a "hold" rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, June 15th. Zacks Research upgraded shares of TAT Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Finally, Truist Financial raised TAT Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, TAT Technologies currently has a consensus rating of "Buy" and an average price target of $57.29.

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.

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