Cubist Systematic Strategies LLC Invests $273,000 in TAT Technologies Ltd. $TATT

Key Points

• Cubist Systematic Strategies LLC has acquired 9,943 shares of TAT Technologies Ltd., representing an investment of approximately $273,000 and bringing their total stake to 0.09% as of the latest SEC filing.
• A number of institutional investors have also increased their holdings in TAT Technologies, with total hedge fund ownership now at 15.13%.
• TAT Technologies recently reported earnings of $0.30 EPS for the quarter, exceeding analysts' expectations, and the company currently holds a market cap of $463.84 million.

Cubist Systematic Strategies LLC acquired a new stake in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 9,943 shares of the aerospace company's stock, valued at approximately $273,000. Cubist Systematic Strategies LLC owned approximately 0.09% of TAT Technologies as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Jane Street Group LLC bought a new stake in shares of TAT Technologies during the fourth quarter valued at approximately $368,000. Virtus Fund Advisers LLC bought a new stake in shares of TAT Technologies during the 4th quarter valued at $29,000. Catalyst Capital Advisors LLC bought a new stake in shares of TAT Technologies during the 1st quarter valued at $63,000. ARK Investment Management LLC bought a new stake in shares of TAT Technologies during the 1st quarter valued at $1,864,000. Finally, CenterBook Partners LP bought a new stake in TAT Technologies during the first quarter worth about $252,000. 15.13% of the stock is owned by institutional investors.

TAT Technologies Stock Performance

Shares of NASDAQ:TATT traded up $0.48 during midday trading on Wednesday, reaching $39.28. 300,000 shares of the company's stock traded hands, compared to its average volume of 127,391. The company has a market cap of $493.36 million, a price-to-earnings ratio of 32.20 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. TAT Technologies Ltd. has a one year low of $16.25 and a one year high of $41.00. The stock has a 50 day moving average of $34.97 and a 200 day moving average of $30.60.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Benchmark boosted their price objective on shares of TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Lake Street Capital started coverage on TAT Technologies in a research report on Wednesday, June 18th. They issued a "buy" rating and a $37.00 price target on the stock. Zacks Research raised TAT Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Truist Financial started coverage on TAT Technologies in a report on Wednesday, June 4th. They issued a "buy" rating and a $35.00 target price 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 investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $38.00.

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.