Key Points
- Insider sale: TAT Technologies insider Paul Maness sold 5,000 shares at an average price of $45.41, worth about $227,050, cutting his ownership by 50%.
- Stock moved lower: Shares of TAT Technologies were down 6.7% and opened at $43.65, while the company carries a market cap of about $566.6 million.
- Fundamentals and outlook: The company recently beat quarterly earnings and revenue estimates, and Wall Street analysts currently rate the stock a consensus Buy with an average target price of $57.29.
TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) insider Paul Maness sold 5,000 shares of the stock in a transaction 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 sale, the insider owned 5,000 shares of the company's stock, valued at approximately $227,050. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
TAT Technologies Stock Down 6.7%
Shares of TAT Technologies stock opened at $43.65 on Tuesday. The firm has a market cap of $566.58 million, a price-to-earnings ratio of 33.84 and a beta of 1.00. The stock has a 50-day simple moving average of $39.71 and a 200-day simple moving average of $45.37. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. TAT Technologies Ltd. has a 52-week low of $26.12 and a 52-week high of $64.50.
TAT Technologies (NASDAQ:TATT - Get Free Report) last posted its 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. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. The firm had revenue of $41.15 million during the quarter, compared to analysts' expectations of $40.25 million. On average, equities research analysts expect that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.
Institutional Investors Weigh In On TAT Technologies
Hedge funds have recently modified their holdings of the business. Greenline Wealth Management LLC acquired a new stake in TAT Technologies during the 4th quarter worth approximately $41,000. Royal Bank of Canada lifted its position in TAT Technologies by 978.8% during the 4th quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company's stock worth $50,000 after buying an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in TAT Technologies during the third quarter worth about $53,000. Quantbot Technologies LP bought a new stake in shares of TAT Technologies during the 3rd quarter worth approximately $121,000. Finally, Osaic Holdings Inc. raised its position in TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock worth $166,000 after acquiring an additional 4,474 shares in the last quarter. Institutional investors and hedge funds own 15.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Zacks Research raised shares of TAT Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 22nd. B. Riley Financial assumed coverage on TAT Technologies in a research note on Wednesday, April 8th. They issued a "buy" rating and a $61.00 target price for the company. Truist Financial upgraded shares of TAT Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their price objective on TAT Technologies from $47.00 to $60.00 and gave the company a "buy" rating in a report on Friday, March 20th. Finally, Weiss Ratings cut shares of TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $57.29.
Read Our Latest Stock Analysis on TAT Technologies
TAT Technologies Company Profile
(
Get Free Report)
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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