Illumine Investment Management LLC Purchases New Position in TAT Technologies Ltd. $TATT

Illumine Investment Management LLC acquired a new position in TAT Technologies Ltd. (NASDAQ:TATT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,312 shares of the aerospace company’s stock, valued at approximately $825,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenline Wealth Management LLC purchased a new stake in TAT Technologies during the 4th quarter valued at $41,000. Royal Bank of Canada raised its stake in shares of TAT Technologies by 978.8% in the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 1,018 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of TAT Technologies in the third quarter worth $53,000. Quantbot Technologies LP bought a new position in shares of TAT Technologies during the third quarter valued at $121,000. Finally, Osaic Holdings Inc. boosted its position in shares of TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after buying an additional 4,474 shares during the last quarter. 15.13% of the stock is owned by institutional investors.

TAT Technologies Price Performance

NASDAQ TATT opened at $42.33 on Tuesday. The stock has a market capitalization of $549.44 million, a price-to-earnings ratio of 32.81 and a beta of 0.98. TAT Technologies Ltd. has a 1-year low of $29.30 and a 1-year high of $64.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. The business’s fifty day moving average price is $41.57 and its 200-day moving average price is $45.94.

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

Insider Activity

In other news, 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 sale, the insider owned 5,000 shares of the company’s stock, valued at $227,050. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jason Lewandowski sold 3,125 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $39.22, for a total transaction of $122,562.50. Following the completion of the transaction, the chief operating officer owned 3,125 shares in the company, valued at $122,562.50. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 8.75% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TATT. Truist Financial upgraded TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Stifel Nicolaus upped their target price on shares of TAT Technologies from $47.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, March 20th. B. Riley Financial initiated coverage on shares of TAT Technologies in a report on Wednesday, April 8th. They set a “buy” rating and a $61.00 price target on the stock. Finally, Weiss Ratings lowered shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, TAT Technologies currently has a consensus rating of “Buy” and a consensus target price of $57.29.

TAT Technologies Profile

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.