Astronics Corporation $ATRO Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in Astronics Corporation (NASDAQ:ATRO) by 21.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 41,326 shares of the aerospace company’s stock after selling 11,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.12% of Astronics worth $1,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ATRO. Nordea Investment Management AB bought a new stake in shares of Astronics during the third quarter valued at approximately $4,137,000. Principal Financial Group Inc. bought a new position in Astronics in the 3rd quarter worth approximately $2,204,000. Y Intercept Hong Kong Ltd grew its holdings 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 worth $1,508,000 after buying an additional 14,160 shares in the last quarter. Vanguard Group Inc. increased its position in Astronics by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock valued at $88,309,000 after acquiring an additional 105,311 shares during the period. Finally, Ellsworth Advisors LLC acquired a new stake in Astronics in the 3rd quarter valued at approximately $918,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Performance

ATRO opened at $73.15 on Wednesday. The business has a 50 day moving average price of $73.46 and a two-hundred day moving average price of $56.56. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 95.00 and a beta of 1.06. Astronics Corporation has a 1-year low of $19.89 and a 1-year high of $83.96.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. The company had revenue of $240.07 million for the quarter, compared to analysts’ expectations of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. Research analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Truist Financial upped their price objective on shares of Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, TD Cowen began coverage on shares of Astronics in a research note on Wednesday, November 26th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $77.33.

Astronics Profile

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.