ARK Investment Management LLC Has $1.82 Million Stake in TAT Technologies Ltd. $TATT

ARK Investment Management LLC trimmed its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,106 shares of the aerospace company's stock after selling 9,699 shares during the period. ARK Investment Management LLC owned about 0.47% of TAT Technologies worth $1,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC acquired a new stake in TAT Technologies in the 1st quarter valued at $63,000. CenterBook Partners LP acquired a new position in shares of TAT Technologies during the 1st quarter worth about $252,000. Roubaix Capital LLC acquired a new position in shares of TAT Technologies during the 1st quarter worth about $5,238,000. Walleye Capital LLC acquired a new position in shares of TAT Technologies during the 1st quarter worth about $228,000. Finally, Virtus Advisers LLC acquired a new position in shares of TAT Technologies during the 1st quarter worth about $45,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

TAT Technologies Stock Performance

Shares of TAT Technologies stock opened at $39.45 on Thursday. The company has a 50 day moving average of $39.24 and a 200-day moving average of $33.31. TAT Technologies Ltd. has a 1-year low of $17.71 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. The company has a market cap of $495.49 million, a PE ratio of 32.34 and a beta of 0.91.

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. TAT Technologies had a net margin of 8.21% and a return on equity of 10.90%. The company had revenue of $43.10 million during the quarter, compared to the consensus estimate of $43.85 million.

Analyst Ratings Changes

TATT has been the topic of several recent analyst reports. Zacks Research lowered shares of TAT Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 13th. Weiss Ratings lowered shares of TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Stifel Nicolaus began coverage on shares of TAT Technologies in a research note on Tuesday, September 16th. They issued a "buy" rating and a $44.00 price target on the stock. Jones Trading began coverage on shares of TAT Technologies in a research note on Friday, October 10th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Wall Street Zen upgraded shares of TAT Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.60.

About TAT Technologies

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.

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