Meitav Investment House Ltd. Buys 555,286 Shares of TAT Technologies Ltd. $TATT

Key Points

• Meitav Investment House Ltd. increased its shareholding in TAT Technologies by 61.7%, now owning approximately 1.45 million shares valued at $44.72 million.
• TAT Technologies reported quarterly earnings of $0.30 per share, exceeding analysts' expectations, though revenue fell slightly short of consensus estimates.
• Equities research analysts have a positive outlook on TAT Technologies, with multiple firms issuing "buy" ratings and raising price targets, including a new high of $44.00 from Stifel Nicolaus.

Meitav Investment House Ltd. grew its stake in TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 61.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,454,618 shares of the aerospace company's stock after purchasing an additional 555,286 shares during the period. Meitav Investment House Ltd. owned approximately 11.58% of TAT Technologies worth $44,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TATT. Catalyst Capital Advisors LLC bought a new stake in shares of TAT Technologies in the 1st quarter valued at approximately $63,000. ARK Investment Management LLC bought a new stake in shares of TAT Technologies in the 1st quarter valued at approximately $1,864,000. CenterBook Partners LP bought a new stake in shares of TAT Technologies in the 1st quarter valued at approximately $252,000. Roubaix Capital LLC bought a new stake in shares of TAT Technologies in the 1st quarter valued at approximately $5,238,000. Finally, Walleye Capital LLC bought a new stake in shares of TAT Technologies in the 1st quarter valued at approximately $228,000. 15.13% of the stock is currently owned by institutional investors.

TAT Technologies Stock Performance

TATT stock opened at $43.97 on Tuesday. The business's fifty day moving average is $37.78 and its 200-day moving average is $32.15. The company has a quick ratio of 2.42, a current ratio of 4.67 and a debt-to-equity ratio of 0.06. The company has a market cap of $552.26 million, a P/E ratio of 36.04 and a beta of 0.91. TAT Technologies Ltd. has a twelve month low of $16.25 and a twelve month high of $45.14.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on TATT shares. Weiss Ratings restated a "buy (b-)" rating on shares of TAT Technologies in a research report on Saturday, September 27th. Benchmark increased their price target on TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Stifel Nicolaus started coverage on TAT Technologies in a research report on Tuesday, September 16th. They set a "buy" rating and a $44.00 price target on the stock. Lake Street Capital started coverage on TAT Technologies in a research report on Wednesday, June 18th. They set a "buy" rating and a $37.00 price target on the stock. Finally, Wall Street Zen upgraded 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 five have assigned a Buy rating to the stock. Based on data from MarketBeat, TAT Technologies has an average rating of "Buy" and an average price target of $38.00.

TAT Technologies Company 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.

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