Skylands Capital LLC Sells 11,000 Shares of Astronics Corporation $ATRO

Skylands Capital LLC reduced its position in shares of Astronics Corporation (NASDAQ:ATRO) by 21.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,400 shares of the aerospace company’s stock after selling 11,000 shares during the quarter. Skylands Capital LLC owned about 0.11% of Astronics worth $1,797,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ATRO. Nordea Investment Management AB acquired a new stake in Astronics in the 3rd quarter valued at $4,137,000. Y Intercept Hong Kong Ltd lifted its position in Astronics by 74.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after acquiring an additional 14,160 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in Astronics during the 3rd quarter worth approximately $918,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Astronics by 75.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock valued at $2,014,000 after buying an additional 19,029 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Astronics by 112.1% during the third quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock worth $3,861,000 after buying an additional 44,747 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Truist Financial set a $75.00 target price on Astronics in a research note on Friday, January 9th. TD Cowen began coverage on Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Finally, CJS Securities raised shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $66.67.

Astronics Price Performance

ATRO stock opened at $74.62 on Wednesday. The firm has a 50 day moving average of $63.88 and a 200-day moving average of $50.47. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $2.66 billion, a P/E ratio of -829.02 and a beta of 1.09. Astronics Corporation has a 12 month low of $18.28 and a 12 month high of $81.89.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.