Astronics Co. (ATRO) CEO Peter J. Gundermann Sells 2,000 Shares

Astronics Co. (NASDAQ:ATRO) CEO Peter J. Gundermann sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $36.66, for a total value of $73,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:ATRO opened at $36.59 on Friday. Astronics Co. has a 12-month low of $23.95 and a 12-month high of $49.45. The company has a market capitalization of $1,016.79, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.07 and a beta of 1.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.06 and a quick ratio of 1.60.

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Astronics (NASDAQ:ATRO) last announced its earnings results on Monday, February 26th. The aerospace company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). The business had revenue of $171.32 million for the quarter, compared to analyst estimates of $179.33 million. Astronics had a return on equity of 10.82% and a net margin of 3.15%. sell-side analysts anticipate that Astronics Co. will post 1.75 EPS for the current year.

Astronics declared that its Board of Directors has authorized a stock buyback program on Monday, December 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of research analysts have issued reports on ATRO shares. Canaccord Genuity reissued a “buy” rating and issued a $46.00 price target on shares of Astronics in a report on Tuesday, December 12th. BidaskClub downgraded Astronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Astronics from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, January 2nd. Finally, SunTrust Banks reissued a “hold” rating and issued a $44.00 price target on shares of Astronics in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Astronics currently has a consensus rating of “Hold” and an average target price of $45.00.

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of Astronics by 5.3% during the 3rd quarter. Rhumbline Advisers now owns 28,194 shares of the aerospace company’s stock worth $839,000 after buying an additional 1,426 shares during the period. First Trust Advisors LP raised its stake in shares of Astronics by 9.0% during the 4th quarter. First Trust Advisors LP now owns 22,566 shares of the aerospace company’s stock worth $936,000 after buying an additional 1,867 shares during the period. New York State Common Retirement Fund raised its stake in shares of Astronics by 5.8% during the 3rd quarter. New York State Common Retirement Fund now owns 36,908 shares of the aerospace company’s stock worth $1,098,000 after buying an additional 2,035 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Astronics by 3.1% during the 4th quarter. Mutual of America Capital Management LLC now owns 97,625 shares of the aerospace company’s stock worth $4,049,000 after buying an additional 2,949 shares during the period. Finally, Aperio Group LLC acquired a new position in shares of Astronics during the 4th quarter worth approximately $283,000. 68.94% of the stock is owned by institutional investors and hedge funds.

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Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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