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) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,943 shares of the aerospace company's stock, valued at approximately $273,000. Cubist Systematic Strategies LLC owned about 0.09% of TAT Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TATT. Roubaix Capital LLC bought a new position in shares of TAT Technologies during the first quarter valued at about $5,238,000. ARK Investment Management LLC purchased a new position in shares of TAT Technologies during the first quarter valued at about $1,864,000. Jane Street Group LLC purchased a new position in shares of TAT Technologies during the fourth quarter valued at about $368,000. CenterBook Partners LP purchased a new position in shares of TAT Technologies during the first quarter valued at about $252,000. Finally, Walleye Capital LLC purchased a new position in shares of TAT Technologies during the first quarter valued at about $228,000. 15.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TATT has been the topic of several research analyst reports. Zacks Research upgraded shares of TAT Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Lake Street Capital initiated coverage on shares of TAT Technologies in a research report on Wednesday, June 18th. They set a "buy" rating and a $37.00 price target on the stock. Benchmark boosted their price target on shares of TAT Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Truist Financial initiated coverage on shares of TAT Technologies in a research report on Wednesday, June 4th. They set a "buy" rating and a $35.00 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 report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, TAT Technologies currently has an average rating of "Buy" and an average target price of $36.00.

TAT Technologies Stock Down 0.6%

TATT traded down $0.21 during midday trading on Friday, reaching $36.72. The company's stock had a trading volume of 116,016 shares, compared to its average volume of 172,226. The firm has a market capitalization of $461.39 million, a price-to-earnings ratio of 30.10 and a beta of 0.78. 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 Ltd. has a 1 year low of $16.25 and a 1 year high of $41.00. The stock's 50-day moving average is $34.51 and its 200-day moving average is $30.36.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its quarterly earnings data 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 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%.

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.