TAT Technologies (NASDAQ:TATT) stock is on the rise Tuesday and investors are taking an interest in the company.
The increase in TATT stock’s price comes as it experiences heavy trading on Wednesday. As of this writing, more than 14 million shares have changed hands. That’s a massive spike compared to its daily average trading volume of only about 25,000 shares.
So what exactly has investors taking an interest in TATT stock today? The company announced a new deal with Honeywell International (NYSE:HON) after markets closed on Tuesday. This is a 10-year agreement that has it acting as the exclusive global supplier of Auxiliary Power Unit rental services for the OEM authorized GTCP331-500 engine.
That positive news has more investors eyeing TATT stock today and that means it’s a good time to brush up on TAT Technologies.
- TAT Technologies has a focus on the thermal management solutions industry, as well as the power and actuation services industry.
- The company handles this through its five subsidiaries.
- This has it serving as a partner for several large companies in the aerospace industry.
- For example, the deal mentioned above will have it working with Boeing (NYSE:BA) on its 777 aircraft.
- TAT Technologies doesn’t just work with commercial companies, it also teams up with those in the defense market.
- That includes Raytheon Technologies (NYSE:RTX) subsidiary Collins Aerospace.
- The company was founded in 1969 and currently employs more than 600 people.
TATT stock was up 50.6% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.