Principal Financial Group Inc. Purchases 13,013 Shares of TAT Technologies Ltd. $TATT

Principal Financial Group Inc. raised its position in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 49.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,553 shares of the aerospace company’s stock after purchasing an additional 13,013 shares during the period. Principal Financial Group Inc. owned about 0.31% of TAT Technologies worth $1,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TATT. Wasatch Advisors LP grew its position in shares of TAT Technologies by 143.0% during the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock worth $23,858,000 after buying an additional 459,693 shares in the last quarter. Boston Partners purchased a new position in TAT Technologies during the 2nd quarter valued at about $13,205,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of TAT Technologies in the 2nd quarter valued at about $11,025,000. New York State Common Retirement Fund bought a new stake in shares of TAT Technologies in the 3rd quarter valued at about $10,150,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of TAT Technologies in the 3rd quarter worth approximately $8,869,000. 15.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TATT has been the topic of several research reports. Benchmark lifted their price objective on shares of TAT Technologies from $53.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Zacks Research upgraded TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “buy (b)” rating on shares of TAT Technologies in a research note on Monday, December 29th. Truist Financial cut their target price on TAT Technologies from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Finally, Freedom Capital upgraded shares of TAT Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, TAT Technologies currently has an average rating of “Buy” and an average target price of $53.17.

TAT Technologies Price Performance

Shares of TATT stock opened at $51.24 on Wednesday. TAT Technologies Ltd. has a fifty-two week low of $23.37 and a fifty-two week high of $54.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 4.44. The firm has a market capitalization of $643.57 million, a price-to-earnings ratio of 38.53 and a beta of 0.93. The stock’s 50-day simple moving average is $47.94 and its 200-day simple moving average is $42.27.

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.