Anthracite Investment Company Inc. Acquires 130,415 Shares of TAT Technologies Ltd. $TATT

Anthracite Investment Company Inc. lifted its holdings in TAT Technologies Ltd. (NASDAQ:TATT) by 900.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,892 shares of the aerospace company’s stock after acquiring an additional 130,415 shares during the period. TAT Technologies accounts for about 2.2% of Anthracite Investment Company Inc.’s portfolio, making the stock its 18th biggest holding. Anthracite Investment Company Inc.’s holdings in TAT Technologies were worth $4,425,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TATT. Meitav Investment House Ltd. boosted its stake in shares of TAT Technologies by 61.7% in the second quarter. Meitav Investment House Ltd. now owns 1,454,618 shares of the aerospace company’s stock worth $44,722,000 after acquiring an additional 555,286 shares during the period. Roubaix Capital LLC purchased a new stake in shares of TAT Technologies in the first quarter worth about $5,238,000. Phoenix Financial Ltd. purchased a new stake in shares of TAT Technologies in the second quarter worth about $4,841,000. ARK Investment Management LLC purchased a new stake in shares of TAT Technologies in the first quarter worth about $1,864,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in shares of TAT Technologies in the second quarter worth about $1,222,000. Institutional investors own 15.13% of the company’s stock.

TAT Technologies Trading Up 2.3%

Shares of TATT stock opened at $41.69 on Friday. TAT Technologies Ltd. has a 1 year low of $17.71 and a 1 year high of $45.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.67 and a quick ratio of 2.42. The stock’s 50 day simple moving average is $39.43 and its two-hundred day simple moving average is $33.58. The company has a market cap of $523.63 million, a PE ratio of 34.17 and a beta of 0.91.

TAT Technologies (NASDAQ:TATT) last issued its quarterly earnings data on Monday, August 11th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. TAT Technologies had a return on equity of 10.90% and a net margin of 8.21%.The business had revenue of $43.10 million for the quarter, compared to the consensus estimate of $43.85 million.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TAT Technologies in a research report on Saturday. Stifel Nicolaus assumed coverage on TAT Technologies in a research report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 target price on the stock. Jones Trading assumed coverage on TAT Technologies in a research report on Friday, October 10th. They issued a “buy” rating and a $50.00 target price on the stock. Truist Financial boosted their target price on TAT Technologies from $35.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Wall Street Zen upgraded TAT Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, August 17th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.60.

TAT Technologies Profile

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.