Paloma Partners Management Co acquired a new stake in Astronics Co. (NASDAQ:ATRO) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 15,921 shares of the aerospace company’s stock, valued at approximately $660,000. Paloma Partners Management Co owned 0.06% of Astronics as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the stock. ACK Asset Management LLC grew its position in shares of Astronics by 18.1% in the 4th quarter. ACK Asset Management LLC now owns 926,700 shares of the aerospace company’s stock valued at $38,430,000 after purchasing an additional 142,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Astronics by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 770,713 shares of the aerospace company’s stock valued at $22,929,000 after purchasing an additional 16,881 shares during the period. Paradice Investment Management LLC grew its position in shares of Astronics by 15.5% in the 4th quarter. Paradice Investment Management LLC now owns 573,365 shares of the aerospace company’s stock valued at $23,777,000 after purchasing an additional 76,870 shares during the period. International Value Advisers LLC acquired a new position in shares of Astronics in the 3rd quarter valued at approximately $12,133,000. Finally, Kennedy Capital Management Inc. grew its position in shares of Astronics by 30.3% in the 4th quarter. Kennedy Capital Management Inc. now owns 155,332 shares of the aerospace company’s stock valued at $6,442,000 after purchasing an additional 36,109 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.
Several equities analysts recently issued reports on ATRO shares. Zacks Investment Research upgraded Astronics from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, January 2nd. BidaskClub upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Dougherty & Co boosted their price objective on Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Canaccord Genuity reiterated a “buy” rating and issued a $46.00 price objective on shares of Astronics in a research report on Tuesday, December 12th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $44.00 price objective on shares of Astronics in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.00.
Shares of Astronics stock opened at $38.56 on Thursday. The company has a market capitalization of $1,079.38, a P/E ratio of 59.32, a price-to-earnings-growth ratio of 2.20 and a beta of 1.58. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.06 and a quick ratio of 1.60. Astronics Co. has a 12 month low of $23.95 and a 12 month high of $49.45.
Astronics (NASDAQ:ATRO) last released its earnings results on Monday, February 26th. The aerospace company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). The firm had revenue of $171.32 million during the quarter, compared to the consensus estimate of $179.33 million. Astronics had a net margin of 3.15% and a return on equity of 10.82%. equities research analysts expect that Astronics Co. will post 1.75 earnings per share for the current fiscal year.
Astronics announced that its board has approved a stock buyback plan on Monday, December 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Astronics news, CEO Peter J. Gundermann sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $38.88, for a total value of $77,760.00. Following the sale, the chief executive officer now owns 19,595 shares in the company, valued at approximately $761,853.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 14,000 shares of company stock worth $573,300 in the last 90 days. Company insiders own 16.45% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.thelincolnianonline.com/2018/03/22/paloma-partners-management-co-takes-660000-position-in-astronics-co-atro.html.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
Receive News & Ratings for Astronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics and related companies with MarketBeat.com's FREE daily email newsletter.