TAT Technologies Ltd. $TATT Shares Sold by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments trimmed its TAT Technologies stake by 10% in the first quarter, selling 90,146 shares but still holding 810,001 shares worth about $32.1 million. The position remains its 16th-largest holding and represents roughly 6.24% of the company.
• Several other institutional investors increased their positions, and hedge funds and institutions now own 15.13% of TAT Technologies. Notable buying came from firms including Meitav Investment House, Wasatch Advisors, Migdal Insurance, and Penn Capital.
• TAT Technologies reported better-than-expected quarterly results, with EPS of $0.26 versus $0.19 expected and revenue of $41.15 million versus $40.25 million forecast. Analysts currently have a consensus Buy rating with an average price target of $57.29.

Y.D. More Investments Ltd lessened its holdings in shares of TAT Technologies Ltd. (NASDAQ:TATT - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 810,001 shares of the aerospace company's stock after selling 90,146 shares during the quarter. TAT Technologies makes up about 1.2% of Y.D. More Investments Ltd's portfolio, making the stock its 16th biggest holding. Y.D. More Investments Ltd owned approximately 6.24% of TAT Technologies worth $32,054,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Meitav Investment House Ltd. raised its position in shares of TAT Technologies by 0.3% in the first quarter. Meitav Investment House Ltd. now owns 1,211,860 shares of the aerospace company's stock valued at $47,989,000 after buying an additional 3,122 shares during the last quarter. Wasatch Advisors LP boosted its position in TAT Technologies by 5.5% during the third quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company's stock worth $36,291,000 after acquiring an additional 43,022 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in TAT Technologies by 92.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company's stock valued at $17,283,000 after acquiring an additional 185,574 shares in the last quarter. Penn Capital Management Company LLC grew its stake in TAT Technologies by 1,063.4% during the 3rd quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company's stock valued at $15,768,000 after acquiring an additional 327,015 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in TAT Technologies by 71.2% in the 4th quarter. Russell Investments Group Ltd. now owns 258,153 shares of the aerospace company's stock valued at $11,529,000 after acquiring an additional 107,353 shares during the last quarter. Hedge funds and other institutional investors own 15.13% of the company's stock.

Insider Activity at TAT Technologies

In other TAT Technologies news, insider Paul Maness sold 5,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the completion of the sale, the insider owned 5,000 shares of the company's stock, valued at $227,050. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jason Lewandowski sold 3,125 shares of TAT Technologies stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the completion of the sale, the chief operating officer owned 3,125 shares in the company, valued at $122,562.50. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.75% of the company's stock.

TAT Technologies Stock Performance

NASDAQ:TATT opened at $43.28 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. The firm has a market capitalization of $561.90 million, a price-to-earnings ratio of 33.55 and a beta of 0.98. The company's 50-day moving average is $41.46 and its two-hundred day moving average is $45.95. TAT Technologies Ltd. has a 1-year low of $29.30 and a 1-year high of $64.50.

TAT Technologies (NASDAQ:TATT - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. The business had revenue of $41.15 million during the quarter, compared to analysts' expectations of $40.25 million. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. Analysts forecast that TAT Technologies Ltd. will post 1.52 EPS for the current year.

Analysts Set New Price Targets

TATT has been the topic of a number of research reports. B. Riley Financial started coverage on shares of TAT Technologies in a research note on Wednesday, April 8th. They issued a "buy" rating and a $61.00 target price on the stock. Weiss Ratings cut TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Truist Financial upgraded TAT Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Stifel Nicolaus boosted their price objective on TAT Technologies from $47.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Finally, Zacks Research upgraded TAT Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $57.29.

About TAT Technologies

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.

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