Intech Investment Management LLC Sells 7,336 Shares of Astronics Corporation $ATRO

Intech Investment Management LLC cut its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 41.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,548 shares of the aerospace company’s stock after selling 7,336 shares during the period. Intech Investment Management LLC’s holdings in Astronics were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ATRO. Nordea Investment Management AB purchased a new position in shares of Astronics during the third quarter valued at approximately $4,137,000. Principal Financial Group Inc. purchased a new position in Astronics during the 3rd quarter valued at $2,204,000. Vanguard Group Inc. grew 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 last quarter. Y Intercept Hong Kong Ltd grew 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 during the last quarter. Finally, Ellsworth Advisors LLC purchased a new stake in Astronics in the third quarter worth $918,000. 56.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. TD Cowen began coverage on shares of Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating for the company. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Truist Financial raised their target price on shares of Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $77.33.

Astronics Stock Performance

Shares of Astronics stock opened at $73.19 on Thursday. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The stock’s fifty day moving average price is $73.84 and its 200-day moving average price is $56.67. The firm has a market cap of $2.61 billion, a P/E ratio of 95.05 and a beta of 1.06. Astronics Corporation has a 12 month low of $19.89 and a 12 month high of $83.96.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. During the same period in the prior year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Astronics Company 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.