Wellington Management Group LLP Makes New Investment in TAT Technologies Ltd. $TATT

Key Points

• Wellington Management Group acquired 439,832 shares of TAT Technologies, worth approximately $21.2 million, giving it a 3.38% stake. Institutional investors collectively own 15.13% of the company.
• TAT Technologies exceeded quarterly expectations, reporting earnings of $0.35 per share versus the $0.30 estimate and revenue of $52.94 million versus the $44.86 million forecast.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and a $57.86 target price, while B. Riley raised its target to $65.00.

Wellington Management Group LLP bought a new position in TAT Technologies Ltd. (NASDAQ:TATT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 439,832 shares of the aerospace company's stock, valued at approximately $21,213,000. Wellington Management Group LLP owned 3.38% of TAT Technologies at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Greenline Wealth Management LLC purchased a new position in shares of TAT Technologies in the 4th quarter valued at $41,000. Royal Bank of Canada lifted its stake in shares of TAT Technologies by 978.8% in the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company's stock worth $50,000 after acquiring an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of TAT Technologies in the 3rd quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new stake in TAT Technologies in the third quarter valued at $121,000. Finally, Osaic Holdings Inc. raised its stake in shares of TAT Technologies by 470.9% in the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock valued at $166,000 after purchasing an additional 4,474 shares in the last quarter. Hedge funds and other institutional investors own 15.13% of the company's stock.

TAT Technologies Stock Performance

NASDAQ:TATT opened at $39.97 on Monday. The stock's 50-day moving average is $41.04 and its two-hundred day moving average is $43.16. TAT Technologies Ltd. has a fifty-two week low of $31.52 and a fifty-two week high of $64.50. The stock has a market cap of $519.61 million, a PE ratio of 24.98 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.61.

TAT Technologies (NASDAQ:TATT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. TAT Technologies had a net margin of 11.26% and a return on equity of 9.84%. The firm had revenue of $52.94 million for the quarter, compared to analyst estimates of $44.86 million. As a group, equities research analysts forecast that TAT Technologies Ltd. will post 1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TATT has been the topic of several research analyst reports. B. Riley Financial raised their price objective on TAT Technologies from $61.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded TAT Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. William Blair reaffirmed a "hold" rating on shares of TAT Technologies in a report on Wednesday, July 15th. Zacks Research upgraded TAT Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 22nd. Finally, Benchmark restated a "buy" rating on shares of TAT Technologies in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $57.86.

Insider Buying and Selling

In related news, insider Paul Maness sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total value of $227,050.00. Following the transaction, the insider owned 5,000 shares in the company, valued at approximately $227,050. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.75% of the company's stock.

TAT Technologies Company Profile

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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