TAT Technologies Ltd. (NASDAQ:TATT) Shares Sold by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments Ltd reduced its stake in TAT Technologies by 12.3%, leaving it with 1,064,258 shares, which account for 2.5% of its portfolio.
• Notable institutional investors such as ARK Investment Management and CenterBook Partners recently acquired new stakes in TAT Technologies, highlighting growing interest in the stock.
• Wall Street analysts have favorable outlooks for TAT Technologies, with several firms upgrading their ratings and target prices, reflecting optimism about the company’s future performance.

Y.D. More Investments Ltd trimmed its position in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,064,258 shares of the aerospace company's stock after selling 149,601 shares during the quarter. TAT Technologies accounts for 2.5% of Y.D. More Investments Ltd's investment portfolio, making the stock its 9th largest holding. Y.D. More Investments Ltd owned 9.73% of TAT Technologies worth $28,870,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CenterBook Partners LP acquired a new stake in TAT Technologies in the 1st quarter valued at $252,000. ARK Investment Management LLC bought a new position in shares of TAT Technologies in the first quarter valued at $1,864,000. Catalyst Capital Advisors LLC bought a new position in shares of TAT Technologies in the first quarter valued at $63,000. Virtus Fund Advisers LLC acquired a new position in shares of TAT Technologies during the fourth quarter valued at about $29,000. Finally, Jane Street Group LLC bought a new stake in shares of TAT Technologies during the fourth quarter worth about $368,000. 15.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TATT has been the topic of several recent research reports. Wall Street Zen raised shares of TAT Technologies from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Lake Street Capital initiated coverage on TAT Technologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $37.00 price objective for the company. Benchmark lifted their target price on TAT Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, Truist Financial initiated coverage on TAT Technologies in a report on Wednesday, June 4th. They set a "buy" rating and a $35.00 price target for the company.

TAT Technologies Stock Up 1.5%

TAT Technologies stock opened at $37.00 on Thursday. TAT Technologies Ltd. has a fifty-two week low of $13.57 and a fifty-two week high of $38.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.12 and a current ratio of 2.87. The firm's 50-day simple moving average is $29.92 and its 200 day simple moving average is $29.00. The stock has a market cap of $464.72 million, a PE ratio of 31.62 and a beta of 0.77.

TAT Technologies (NASDAQ:TATT - Get Free Report) last posted its earnings results on Monday, May 19th. The aerospace company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $42.14 million for the quarter, compared to analysts' expectations of $41.70 million. TAT Technologies had a net margin of 8.04% and a return on equity of 11.90%.

TAT Technologies 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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