Phoenix Financial Ltd. Makes New Investment in TAT Technologies Ltd. $TATT

Key Points

• Phoenix Financial Ltd. has acquired 158,525 shares of TAT Technologies Ltd., valued at approximately $4.8 million, representing a 1.26% stake in the company.
• Analyst ratings for TAT Technologies have varied, with Zacks downgrading it to "hold," while others, including Jones Trading, issued a "buy" rating with a $50.00 price target.
• TAT Technologies' stock recently increased by 4.8%, reaching $40.72, as the company continues to show positive earnings performance against estimates.

Phoenix Financial Ltd. bought a new position in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 158,525 shares of the aerospace company's stock, valued at approximately $4,841,000. Phoenix Financial Ltd. owned about 1.26% of TAT Technologies as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in TAT Technologies during the 1st quarter worth approximately $45,000. Catalyst Capital Advisors LLC bought a new position in TAT Technologies during the 1st quarter worth approximately $63,000. Goldman Sachs Group Inc. bought a new position in TAT Technologies during the 1st quarter worth approximately $207,000. Morgan Dempsey Capital Management LLC lifted its holdings in TAT Technologies by 72.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock worth $221,000 after buying an additional 3,050 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of TAT Technologies in the 1st quarter worth approximately $228,000. Institutional investors own 15.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TATT shares. Zacks Research downgraded TAT Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, October 13th. Wall Street Zen raised TAT Technologies from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. Jones Trading started coverage on TAT Technologies in a report on Friday, October 10th. They issued a "buy" rating and a $50.00 price target on the stock. Weiss Ratings downgraded TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, Stifel Nicolaus started coverage on TAT Technologies in a report on Tuesday, September 16th. They issued a "buy" rating and a $44.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, TAT Technologies presently has an average rating of "Moderate Buy" and an average target price of $44.60.

TAT Technologies Stock Up 4.8%

Shares of TAT Technologies stock opened at $40.72 on Tuesday. The business's fifty day moving average price is $38.96 and its two-hundred day moving average price is $33.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.67 and a quick ratio of 2.42. The company has a market capitalization of $511.44 million, a P/E ratio of 33.38 and a beta of 0.91. TAT Technologies Ltd. has a 1-year low of $17.71 and a 1-year high of $45.40.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its earnings results on Monday, August 11th. The aerospace company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm 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%.

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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