TAT Technologies (NASDAQ:TATT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• TAT Technologies reported a quarterly earnings per share (EPS) of $0.30, exceeding analysts' expectations of $0.29 by $0.01.
• The company's stock experienced a slight increase of 0.2%, closing at $37.07 with a trading volume surpassing its average.
• Goldman Sachs recently acquired 7,537 shares of TAT Technologies, marking a new investment as institutional investors hold 15.13% of the company's stock.

TAT Technologies (NASDAQ:TATT - Get Free Report) issued its quarterly earnings results on Monday. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.01, Zacks reports. TAT Technologies had a net margin of 8.04% and a return on equity of 11.90%.

TAT Technologies Stock Up 0.2%

Shares of TATT stock traded up $0.06 during trading on Monday, reaching $37.07. The company's stock had a trading volume of 229,461 shares, compared to its average volume of 110,232. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 1.12. The company has a market capitalization of $465.60 million, a price-to-earnings ratio of 31.68 and a beta of 0.77. The stock's 50-day moving average price is $30.55 and its 200 day moving average price is $29.14. TAT Technologies has a 1-year low of $13.57 and a 1-year high of $38.26.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in TAT Technologies stock. Goldman Sachs Group Inc. acquired a new stake in TAT Technologies Ltd. (NASDAQ:TATT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,537 shares of the aerospace company's stock, valued at approximately $207,000. Goldman Sachs Group Inc. owned 0.07% of TAT Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 15.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TATT. Truist Financial began coverage on shares of TAT Technologies in a report on Wednesday, June 4th. They set a "buy" rating and a $35.00 price target on the stock. Lake Street Capital initiated coverage on TAT Technologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $37.00 price objective on the stock. Wall Street Zen downgraded shares of TAT Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Benchmark raised their price target on shares of TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.