Walleye Capital LLC Acquires Shares of 25,946 TAT Technologies Ltd. $TATT

Walleye Capital LLC bought a new stake in TAT Technologies Ltd. (NASDAQ:TATT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,946 shares of the aerospace company’s stock, valued at approximately $1,054,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd increased its holdings in TAT Technologies by 26.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 456,640 shares of the aerospace company’s stock worth $18,405,000 after acquiring an additional 95,756 shares during the last quarter. Morgan Dempsey Capital Management LLC boosted its position in TAT Technologies by 10.4% during the first quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company’s stock worth $382,000 after purchasing an additional 888 shares during the period. Illumine Investment Management LLC bought a new position in TAT Technologies during the first quarter worth about $825,000. Meitav Investment House Ltd. increased its stake 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 worth $47,989,000 after purchasing an additional 3,122 shares in the last quarter. Finally, Stephens Investment Management Group LLC bought a new stake in shares of TAT Technologies in the first quarter valued at approximately $7,733,000. Institutional investors own 15.13% of the company’s stock.

Wall Street Analyst Weigh In

TATT has been the subject of several analyst reports. Truist Financial raised shares of TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings cut shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. William Blair restated a “hold” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. B. Riley Financial began coverage on TAT Technologies in a research report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 price target for the company. Finally, Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $57.29.

TAT Technologies Price Performance

Shares of NASDAQ:TATT opened at $41.83 on Friday. The company has a 50 day moving average of $42.73 and a 200 day moving average of $45.70. The company has a current ratio of 4.69, a quick ratio of 2.46 and a debt-to-equity ratio of 0.05. The stock has a market cap of $543.08 million, a P/E ratio of 32.43 and a beta of 0.98. TAT Technologies Ltd. has a 12 month low of $30.35 and a 12 month high of $64.50.

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

Insider Buying and Selling at TAT Technologies

In related news, insider Paul Maness sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 5,000 shares in the company, valued at $227,050. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason Lewandowski sold 3,125 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $39.22, for a total value of $122,562.50. Following the transaction, the chief operating officer owned 3,125 shares of the company’s stock, valued at approximately $122,562.50. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.75% of the stock is currently owned by company insiders.

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.