TAT Technologies Ltd. $TATT Shares Purchased by Penn Capital Management Company LLC

Key Points

• Penn Capital increased its TAT Technologies stake by 16.3% in the third quarter, adding 58,376 shares to hold 415,767 shares, valued at about $14.6 million. Institutional investors collectively own 15.13% of the company.
• TAT Technologies beat quarterly expectations, reporting EPS of $0.58 versus analysts’ $0.39 estimate and revenue of $55.56 million versus $52.84 million expected.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $58.83; B. Riley raised its target to $63 while maintaining a Buy rating.

Penn Capital Management Company LLC lifted its holdings in TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 415,767 shares of the aerospace company's stock after purchasing an additional 58,376 shares during the period. Penn Capital Management Company LLC owned about 3.20% of TAT Technologies worth $14,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TATT. IFP Advisors Inc grew its position in TAT Technologies by 100.0% during the second quarter. IFP Advisors Inc now owns 1,954 shares of the aerospace company's stock valued at $94,000 after buying an additional 977 shares during the period. OMERS ADMINISTRATION Corp bought a new position in TAT Technologies in the first quarter worth approximately $228,000. Morgan Dempsey Capital Management LLC raised its position in TAT Technologies by 10.4% in the first quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company's stock worth $382,000 after acquiring an additional 888 shares during the period. Corient Private Wealth LP purchased a new position in shares of TAT Technologies during the 2nd quarter worth $711,000. Finally, Illumine Investment Management LLC purchased a new position in shares of TAT Technologies during the 1st quarter worth $825,000. Hedge funds and other institutional investors own 15.13% of the company's stock.

TAT Technologies Trading Up 4.2%

TAT Technologies stock opened at $38.55 on Tuesday. The firm has a 50 day moving average of $35.56 and a 200 day moving average of $42.03. The firm has a market capitalization of $501.15 million, a price-to-earnings ratio of 21.30 and a beta of 1.04. TAT Technologies Ltd. has a 12-month low of $30.47 and a 12-month high of $64.50. The company has a current ratio of 4.97, a quick ratio of 2.61 and a debt-to-equity ratio of 0.06.

TAT Technologies (NASDAQ:TATT - Get Free Report) last released its earnings results on Monday, November 2nd. The aerospace company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.19. The company had revenue of $55.56 million for the quarter, compared to analysts' expectations of $52.84 million. TAT Technologies had a net margin of 12.17% and a return on equity of 11.02%. As a group, research analysts predict that TAT Technologies Ltd. will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

TATT has been the subject of a number of recent research reports. UBS Group reissued a "buy" rating on shares of TAT Technologies in a research report on Tuesday, November 3rd. William Blair restated a "hold" rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Benchmark reaffirmed a "buy" rating on shares of TAT Technologies in a report on Tuesday, August 25th. B. Riley Financial reiterated a "buy" rating and set a $63.00 target price (up from $60.00) on shares of TAT Technologies in a research report on Tuesday, November 3rd. Finally, Weiss Ratings downgraded TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.83.

About TAT Technologies

TAT Technologies Ltd. is an aerospace and defense company headquartered in Netanya, Israel. The company develops, manufactures, and services thermal-management and other specialized systems used in commercial, military, business, and general aviation applications.

Its product portfolio includes heat exchangers, air-conditioning and environmental-control components, air-cycle machines, pre-coolers, oil coolers, fuel heaters, pumps, and related aircraft systems. TAT also provides maintenance, repair, and overhaul services for aircraft heat-transfer equipment, auxiliary power units, landing-gear components, and other aviation parts.

Through its operations in Israel and the United States, TAT Technologies serves aircraft manufacturers, airlines, aerospace and defense contractors, and government customers.

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