TAT Technologies (NASDAQ:TATT) Issues 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 data on Monday. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.01, Zacks reports. TAT Technologies had a return on equity of 10.90% and a net margin of 8.21%. The firm had revenue of $43.10 million during the quarter, compared to analysts' expectations of $43.85 million.

TAT Technologies Stock Up 3.0%

NASDAQ:TATT traded up $1.08 during mid-day trading on Friday, reaching $37.12. The stock had a trading volume of 23,249 shares, compared to its average volume of 137,979. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.67 and a quick ratio of 1.12. The stock's 50 day simple moving average is $30.99 and its two-hundred day simple moving average is $29.25. TAT Technologies has a 1-year low of $14.44 and a 1-year high of $38.26. The company has a market capitalization of $466.24 million, a price-to-earnings ratio of 30.31 and a beta of 0.77.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in TAT Technologies during the 1st quarter valued at $207,000. PDT Partners LLC acquired a new stake in TAT Technologies during the 2nd quarter valued at $228,000. Qube Research & Technologies Ltd purchased a new position in shares of TAT Technologies during the 2nd quarter valued at $237,000. BNP Paribas Financial Markets purchased a new position in shares of TAT Technologies during the 2nd quarter valued at $352,000. Finally, Walleye Capital LLC grew its holdings in shares of TAT Technologies by 49.1% during the 2nd quarter. Walleye Capital LLC now owns 12,343 shares of the aerospace company's stock valued at $377,000 after acquiring an additional 4,062 shares in the last quarter. Institutional investors own 15.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TATT shares. Truist Financial initiated coverage on TAT Technologies in a research note on Wednesday, June 4th. They issued a "buy" rating and a $35.00 price objective for the company. Benchmark lifted their target price on TAT Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Lake Street Capital began 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. Finally, Wall Street Zen cut TAT Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

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.