Advisors Asset Management Inc. reduced its position in Astronics Corp. (NASDAQ:ATRO) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 3,765 shares of the company’s stock after selling 171 shares during the period. Advisors Asset Management Inc.’s holdings in Astronics Corp. were worth $125,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Astronics Corp. by 10.2% in the first quarter. Royal Bank of Canada now owns 1,428,005 shares of the company’s stock worth $54,479,000 after buying an additional 132,410 shares during the last quarter. New Amsterdam Partners LLC NY bought a new position in shares of Astronics Corp. during the second quarter worth about $4,144,000. Frontier Capital Management Co. LLC bought a new position in shares of Astronics Corp. during the second quarter worth about $3,802,000. Wellington Management Group LLP boosted its position in shares of Astronics Corp. by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,580,396 shares of the company’s stock worth $60,292,000 after buying an additional 87,543 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Astronics Corp. by 6.2% in the second quarter. Neuberger Berman Group LLC now owns 1,384,191 shares of the company’s stock worth $46,038,000 after buying an additional 80,750 shares during the last quarter. Hedge funds and other institutional investors own 65.80% of the company’s stock.
Astronics Corp. (NASDAQ:ATRO) traded down 4.24% on Friday, hitting $36.62. The stock had a trading volume of 187,871 shares. The firm has a market cap of $926.27 million, a PE ratio of 14.83 and a beta of 1.18. Astronics Corp. has a 52-week low of $24.75 and a 52-week high of $48.00. The company has a 50-day moving average price of $43.53 and a 200 day moving average price of $38.61.
Astronics Corp. (NASDAQ:ATRO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The company had revenue of $164.40 million for the quarter, compared to analysts’ expectations of $162.17 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Astronics Corp.’s revenue was down 5.0% compared to the same quarter last year. Equities analysts forecast that Astronics Corp. will post $2.21 earnings per share for the current fiscal year.
A number of brokerages have issued reports on ATRO. Canaccord Genuity lifted their price objective on Astronics Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 26th. KeyCorp upgraded Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th.
In related news, Director John B. Drenning sold 5,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $43.47, for a total value of $217,350.00. Following the transaction, the director now owns 52,039 shares of the company’s stock, valued at $2,262,135.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.03% of the stock is owned by corporate insiders.
About Astronics Corp.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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