Paul Maness Sells 5,000 Shares of TAT Technologies (NASDAQ:TATT) Stock

TAT Technologies Ltd. (NASDAQ:TATT) insider Paul Maness sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total transaction of $227,050.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $227,050. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

TAT Technologies Trading Down 6.7%

TATT stock traded down $3.11 during mid-day trading on Monday, hitting $43.65. 173,448 shares of the company were exchanged, compared to its average volume of 187,123. TAT Technologies Ltd. has a 12-month low of $26.12 and a 12-month high of $64.50. The firm has a market capitalization of $566.58 million, a P/E ratio of 33.84 and a beta of 1.00. The business has a fifty day simple moving average of $39.70 and a 200-day simple moving average of $45.35. The company has a quick ratio of 2.46, a current ratio of 4.69 and a debt-to-equity ratio of 0.05.

TAT Technologies (NASDAQ:TATT) last released its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The business had revenue of $41.15 million for the quarter, compared to the consensus estimate of $40.25 million. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. On average, equities research analysts predict that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.

Institutional Trading of TAT Technologies

A number of large investors have recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in TAT Technologies by 143.0% in the second quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock worth $23,858,000 after acquiring an additional 459,693 shares during the last quarter. Penn Capital Management Company LLC grew its holdings 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 worth $15,768,000 after acquiring an additional 327,015 shares in the last quarter. Stephens Investment Management Group LLC purchased a new stake in shares of TAT Technologies in the 1st quarter valued at approximately $7,733,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of TAT Technologies by 92.1% in 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 purchasing an additional 185,574 shares during the last quarter. Finally, Next Century Growth Investors LLC acquired a new stake in shares of TAT Technologies in the 4th quarter valued at $5,902,000. 15.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TATT has been the topic of a number of research reports. Benchmark upped their price target on TAT Technologies from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Truist Financial raised TAT Technologies to a “strong-buy” rating in a research note on Friday, May 1st. B. Riley Financial began coverage on TAT Technologies in a report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 price objective on the stock. Stifel Nicolaus increased their target price 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, Weiss Ratings cut TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. 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.com, the company 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.