Y.D. More Investments Ltd Sells 149,601 Shares of TAT Technologies Ltd. (NASDAQ:TATT)

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 decreased its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 12.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064,258 shares of the aerospace company's stock after selling 149,601 shares during the quarter. TAT Technologies makes up 2.5% of Y.D. More Investments Ltd's portfolio, making the stock its 9th largest position. Y.D. More Investments Ltd owned 9.73% of TAT Technologies worth $28,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Virtus Fund Advisers LLC acquired a new stake in TAT Technologies during the 4th quarter valued at approximately $29,000. Catalyst Capital Advisors LLC purchased a new stake in shares of TAT Technologies during the first quarter worth $63,000. CenterBook Partners LP purchased a new stake in shares of TAT Technologies in the first quarter valued at about $252,000. Jane Street Group LLC purchased a new stake in shares of TAT Technologies in the fourth quarter valued at about $368,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of TAT Technologies by 7.9% in the fourth quarter. JPMorgan Chase & Co. now owns 14,993 shares of the aerospace company's stock valued at $385,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 15.13% of the company's stock.

TAT Technologies Stock Performance

Shares of NASDAQ TATT traded down $0.15 during trading hours on Monday, reaching $36.86. The stock had a trading volume of 102,347 shares, compared to its average volume of 133,489. The firm has a 50-day moving average of $30.34 and a 200-day moving average of $29.09. The firm has a market cap of $462.91 million, a price-to-earnings ratio of 31.69 and a beta of 0.77. The company has a current ratio of 2.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.09. TAT Technologies Ltd. has a fifty-two week low of $13.57 and a fifty-two week high of $38.26.

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

Analysts Set New Price Targets

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

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.