Wellington Management Group LLP Purchases Shares of 439,832 TAT Technologies Ltd. $TATT

Wellington Management Group LLP bought a new position in TAT Technologies Ltd. (NASDAQ:TATT) during the 2nd quarter, Holdings Channel reports. The fund bought 439,832 shares of the aerospace company’s stock, valued at approximately $21,213,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its position in TAT Technologies by 35.1% during the second quarter. Wasatch Advisors LP now owns 768,702 shares of the aerospace company’s stock worth $37,074,000 after acquiring an additional 199,622 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in TAT Technologies by 8.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 100,864 shares of the aerospace company’s stock worth $4,865,000 after purchasing an additional 8,095 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of TAT Technologies in the 1st quarter worth approximately $228,000. Renaissance Technologies LLC lifted its holdings in shares of TAT Technologies by 14.9% during the first quarter. Renaissance Technologies LLC now owns 203,402 shares of the aerospace company’s stock valued at $8,264,000 after acquiring an additional 26,400 shares during the period. Finally, Sei Investments Co. lifted its holdings in TAT Technologies by 91.4% during the 1st quarter. Sei Investments Co. now owns 39,366 shares of the aerospace company’s stock valued at $1,599,000 after purchasing an additional 18,799 shares during the last quarter. 15.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TAT Technologies news, insider Paul Maness sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the transaction, the insider owned 5,000 shares of the company’s stock, valued at $227,050. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on TATT shares. Benchmark reiterated a “buy” rating on shares of TAT Technologies in a research report on Tuesday, August 25th. Weiss Ratings upgraded shares of TAT Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. William Blair restated a “hold” rating on shares of TAT Technologies in a report on Wednesday, July 15th. Zacks Research raised shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, B. Riley Financial lifted their price objective on TAT Technologies from $61.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, TAT Technologies presently has a consensus rating of “Buy” and a consensus price target of $57.86.

TAT Technologies Stock Performance

TAT Technologies stock opened at $39.97 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.61. The firm has a 50-day moving average of $41.04 and a 200-day moving average of $43.16. The company has a market cap of $519.61 million, a price-to-earnings ratio of 24.98 and a beta of 1.00. TAT Technologies Ltd. has a one year low of $31.52 and a one year high of $64.50.

TAT Technologies (NASDAQ:TATT) last posted its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. TAT Technologies had a return on equity of 9.84% and a net margin of 11.26%.The firm had revenue of $52.94 million for the quarter, compared to analyst estimates of $44.86 million. On average, equities analysts expect that TAT Technologies Ltd. will post 1.39 earnings per share for the current fiscal year.

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.