Sei Investments Co. Grows Holdings in TAT Technologies Ltd. $TATT

Sei Investments Co. grew its holdings in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 91.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,366 shares of the aerospace company’s stock after buying an additional 18,799 shares during the period. Sei Investments Co.’s holdings in TAT Technologies were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in shares of TAT Technologies during the 1st quarter worth about $207,000. Jane Street Group LLC boosted its holdings in TAT Technologies by 125.8% in the first quarter. Jane Street Group LLC now owns 32,344 shares of the aerospace company’s stock valued at $889,000 after purchasing an additional 18,020 shares in the last quarter. JPMorgan Chase & Co. increased its stake in TAT Technologies by 470.4% in the second quarter. JPMorgan Chase & Co. now owns 69,618 shares of the aerospace company’s stock valued at $2,126,000 after purchasing an additional 57,412 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in TAT Technologies by 70.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 74,984 shares of the aerospace company’s stock valued at $2,316,000 after purchasing an additional 31,104 shares during the last quarter. Finally, Walleye Capital LLC raised its holdings in TAT Technologies by 49.1% during the second quarter. Walleye Capital LLC now owns 12,343 shares of the aerospace company’s stock worth $377,000 after purchasing an additional 4,062 shares in the last quarter. Hedge funds and other institutional investors own 15.13% of the company’s stock.

TAT Technologies Trading Down 0.7%

Shares of TAT Technologies stock opened at $39.37 on Tuesday. TAT Technologies Ltd. has a 1 year low of $30.35 and a 1 year high of $64.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.61 and a current ratio of 4.83. The company has a market capitalization of $511.81 million, a P/E ratio of 24.61 and a beta of 1.00. The company’s fifty day moving average is $43.23 and its two-hundred day moving average is $44.80.

TAT Technologies (NASDAQ:TATT) last announced its earnings results on Wednesday, August 5th. The aerospace company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. TAT Technologies had a net margin of 11.26% and a return on equity of 9.84%. The business had revenue of $52.94 million during the quarter, compared to analysts’ expectations of $44.86 million. Analysts forecast that TAT Technologies Ltd. will post 1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

TATT has been the subject of several research analyst reports. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Truist Financial upgraded shares of TAT Technologies to a “strong-buy” rating in a research note on Friday, May 1st. William Blair reissued a “hold” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Finally, Benchmark reaffirmed a “buy” rating on shares of TAT Technologies in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, TAT Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Insider Activity

In other TAT Technologies news, 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 sale, the chief operating officer directly owned 3,125 shares of the company’s stock, valued at approximately $122,562.50. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Maness sold 5,000 shares of TAT Technologies stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total value of $227,050.00. Following the completion of the transaction, the insider owned 5,000 shares in the company, valued at $227,050. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.75% of the company’s stock.

TAT Technologies Company 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.