CenterBook Partners LP Reduces Position in TAT Technologies Ltd. $TATT

CenterBook Partners LP cut its holdings in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,481 shares of the aerospace company’s stock after selling 55,247 shares during the quarter. CenterBook Partners LP owned approximately 0.84% of TAT Technologies worth $4,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in shares of TAT Technologies in the third quarter worth about $53,000. Morgan Dempsey Capital Management LLC lifted its holdings in shares of TAT Technologies by 17.2% in the third quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock worth $372,000 after buying an additional 1,249 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of TAT Technologies by 14.6% in the third quarter. GSA Capital Partners LLP now owns 11,854 shares of the aerospace company’s stock worth $522,000 after buying an additional 1,511 shares in the last quarter. Huntleigh Advisors Inc. lifted its holdings in shares of TAT Technologies by 5.4% in the fourth quarter. Huntleigh Advisors Inc. now owns 40,166 shares of the aerospace company’s stock worth $1,794,000 after buying an additional 2,065 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of TAT Technologies in the third quarter worth about $121,000. 15.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Wall Street Zen downgraded shares of TAT Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. B. Riley Financial began coverage on shares of TAT Technologies in a research note on Wednesday, April 8th. They issued a “buy” rating and a $61.00 target price on the stock. Stifel Nicolaus increased their price target on shares of TAT Technologies from $47.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Benchmark raised their target price on shares of TAT Technologies from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TAT Technologies currently has a consensus rating of “Buy” and an average price target of $57.29.

TAT Technologies Price Performance

Shares of NASDAQ:TATT opened at $43.66 on Tuesday. TAT Technologies Ltd. has a fifty-two week low of $25.52 and a fifty-two week high of $64.50. The business has a 50-day simple moving average of $38.96 and a two-hundred day simple moving average of $44.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.46 and a current ratio of 4.69. The firm has a market cap of $566.71 million, a price-to-earnings ratio of 33.85 and a beta of 1.00.

TAT Technologies (NASDAQ:TATT) last issued its earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The business 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, analysts expect that TAT Technologies Ltd. will post 1.52 earnings per share for the current year.

Insider Activity

In other TAT Technologies news, COO Jason Lewandowski sold 3,125 shares of the business’s stock in a transaction dated 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 in the company, valued at $122,562.50. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.75% of the stock is currently owned by corporate insiders.

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.