Migdal Insurance & Financial Holdings Ltd. Buys 185,574 Shares of TAT Technologies Ltd. $TATT

Key Points

• Migdal Insurance boosted its stake in TAT Technologies by 92.1%, acquiring an additional 185,574 shares to hold 386,996 shares (about 3.08% of the company) valued at roughly $17.28 million.
• Other institutions also increased exposure—Wasatch Advisors rose 143% to 781,216 shares and Penn Capital jumped 1,063% to 357,768 shares—leaving institutional ownership at about 15.13%.
• Analysts maintain a consensus "Buy" with an average price target of $57.29 (several firms raised targets to the $60–$66 range), despite TAT trading near $35.84 and recently missing quarterly EPS and revenue estimates.

Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 92.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 386,996 shares of the aerospace company's stock after acquiring an additional 185,574 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 3.08% of TAT Technologies worth $17,283,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in TAT Technologies by 143.0% during the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company's stock worth $23,858,000 after purchasing an additional 459,693 shares in the last quarter. Penn Capital Management Company LLC lifted its holdings in shares of TAT Technologies by 1,063.4% in the third quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company's stock valued at $15,768,000 after purchasing an additional 327,015 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of TAT Technologies during the third quarter worth about $10,150,000. Apis Capital Advisors LLC acquired a new position in shares of TAT Technologies during the third quarter worth about $5,063,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of TAT Technologies by 470.4% during the second 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 in the last quarter. 15.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on TATT. Wall Street Zen lowered TAT Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TAT Technologies in a research note on Friday, March 27th. Benchmark lifted their price objective on shares of TAT Technologies from $58.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, March 12th. Stifel Nicolaus boosted their price objective on shares of TAT Technologies from $47.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Finally, B. Riley Financial began coverage on shares of TAT Technologies in a report on Wednesday, April 8th. They set a "buy" rating and a $61.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $57.29.

TAT Technologies Price Performance

NASDAQ:TATT opened at $35.84 on Wednesday. TAT Technologies Ltd. has a 12-month low of $24.56 and a 12-month high of $64.50. The stock's 50 day moving average price is $48.91 and its two-hundred day moving average price is $45.72. The company has a quick ratio of 2.67, a current ratio of 4.89 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $465.20 million, a price-to-earnings ratio of 26.16 and a beta of 1.11.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). TAT Technologies had a net margin of 9.45% and a return on equity of 10.69%. The business had revenue of $46.53 million for the quarter, compared to analyst estimates of $48.04 million. On average, analysts anticipate that TAT Technologies Ltd. will post 1.61 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.