188,492 Shares in Astronics Corporation $ATRO Acquired by Atom Investors LP

Atom Investors LP acquired a new position in Astronics Corporation (NASDAQ:ATRO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 188,492 shares of the aerospace company’s stock, valued at approximately $10,224,000. Astronics comprises 0.8% of Atom Investors LP’s portfolio, making the stock its 12th largest position.

A number of other hedge funds also recently added to or reduced their stakes in ATRO. Capital International Investors purchased a new position in Astronics in the 3rd quarter worth approximately $64,173,000. Luxor Capital Group LP purchased a new position in Astronics in the 3rd quarter worth approximately $52,698,000. State Street Corp raised its holdings in Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after acquiring an additional 379,811 shares during the last quarter. Congruence Capital LLC purchased a new position in Astronics in the 4th quarter worth approximately $19,658,000. Finally, Millennium Management LLC raised its holdings in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares during the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Trading Down 0.3%

Shares of ATRO stock opened at $75.50 on Wednesday. Astronics Corporation has a 1 year low of $22.73 and a 1 year high of $83.24. The firm has a fifty day moving average price of $66.30 and a 200-day moving average price of $59.58. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 76.78 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Astronics Corporation will post 2.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ATRO shares. Wall Street Zen lowered shares of Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. TD Cowen boosted their target price on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Astronics currently has an average rating of “Moderate Buy” and an average price target of $74.17.

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.