GSA Capital Partners LLP Acquires Shares of 11,539 Astronics Corporation $ATRO

GSA Capital Partners LLP acquired a new position in Astronics Corporation (NASDAQ:ATRO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,539 shares of the aerospace company’s stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 acquiring an additional 1,069 shares in the last quarter. Millennium Management LLC boosted its position in 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 acquiring an additional 332,133 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $5,377,000 after acquiring an additional 46,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 worth $1,735,000 after acquiring an additional 13,104 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen raised their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Astronics has an average rating of “Buy” and an average target price of $74.17.

Astronics Trading Down 7.4%

NASDAQ ATRO opened at $86.12 on Wednesday. Astronics Corporation has a 12 month low of $27.89 and a 12 month high of $94.46. The stock has a market cap of $3.70 billion, a P/E ratio of 50.66 and a beta of 1.15. The stock’s fifty day moving average price is $76.06 and its 200-day moving average price is $67.72. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. The firm had revenue of $259.96 million during the quarter, compared to analyst estimates of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The company’s quarterly revenue was up 46.9% on a year-over-year basis. As a group, equities analysts forecast that Astronics Corporation will post 2.55 EPS for the current fiscal 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.