Teton Advisors LLC Trims Stock Holdings in Astronics Corporation $ATRO

Teton Advisors LLC cut its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 30.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,000 shares of the aerospace company’s stock after selling 33,000 shares during the quarter. Astronics accounts for approximately 2.9% of Teton Advisors LLC’s holdings, making the stock its 3rd biggest holding. Teton Advisors LLC’s holdings in Astronics were worth $4,176,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ATRO. Allworth Financial LP grew its holdings in shares of Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. Covestor Ltd lifted its stake in Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 216 shares during the last quarter. US Bancorp DE boosted its position in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after buying an additional 281 shares during the period. WINTON GROUP Ltd grew its stake in shares of Astronics by 4.6% during the third quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company’s stock valued at $394,000 after buying an additional 383 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Astronics by 2.3% during the second quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock valued at $643,000 after buying an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

Astronics Price Performance

ATRO stock opened at $78.59 on Monday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 66.60 and a beta of 1.10. The firm’s 50-day moving average price is $72.26 and its two-hundred day moving average price is $65.88. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 12-month low of $27.27 and a 12-month high of $83.96.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. Astronics’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, equities analysts predict that Astronics Corporation will post 2.65 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.