Versor Investments LP Takes Position in Astronics Corporation $ATRO

Versor Investments LP acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 6,506 shares of the aerospace company’s stock, valued at approximately $353,000.

Several other institutional investors have also recently modified their holdings of ATRO. AQR Capital Management LLC increased its position in shares of Astronics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after purchasing an additional 18,975 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Astronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock valued at $423,000 after purchasing an additional 1,069 shares during the last quarter. Millennium Management LLC increased its position in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Astronics by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after purchasing an additional 46,054 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Astronics by 22.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after purchasing an additional 13,104 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Astronics currently has an average rating of “Buy” and an average price target of $77.33.

Astronics Price Performance

ATRO opened at $82.71 on Friday. The stock’s 50 day simple moving average is $72.28 and its 200 day simple moving average is $65.68. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71. Astronics Corporation has a 1 year low of $27.27 and a 1 year high of $83.96. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 70.09 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Astronics had a return on equity of 48.50% and a net margin of 5.12%.The business had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. During the same period last year, the company earned $0.44 EPS. Astronics’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts predict that Astronics Corporation will post 2.62 earnings per share for the current year.

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.