Reinhart Partners Inc. raised its position in Astronics Co. (NASDAQ:ATRO) by 31.7% in the 3rd quarter, Holdings Channel reports. The fund owned 141,248 shares of the aerospace company’s stock after acquiring an additional 34,030 shares during the period. Reinhart Partners Inc.’s holdings in Astronics were worth $4,150,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in ATRO. Scout Investments Inc. increased its stake in shares of Astronics by 64.0% during the second quarter. Scout Investments Inc. now owns 218,472 shares of the aerospace company’s stock worth $8,787,000 after purchasing an additional 85,218 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of Astronics by 11.9% during the second quarter. Mesirow Financial Investment Management Inc. now owns 13,266 shares of the aerospace company’s stock worth $529,000 after purchasing an additional 1,410 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Astronics during the second quarter worth about $76,000. Bessemer Group Inc. purchased a new stake in shares of Astronics during the second quarter worth about $402,000. Finally, HGK Asset Management Inc. increased its stake in shares of Astronics by 13.5% during the second quarter. HGK Asset Management Inc. now owns 13,211 shares of the aerospace company’s stock worth $531,000 after purchasing an additional 1,568 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.
A number of research firms have recently commented on ATRO. Zacks Investment Research cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. TheStreet cut shares of Astronics from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. Dougherty & Co dropped their price objective on shares of Astronics from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday. SunTrust Banks dropped their price objective on shares of Astronics to $26.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, ValuEngine cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.75.
In other Astronics news, CFO David C. Burney sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $26.20, for a total transaction of $104,800.00. Following the sale, the chief financial officer now directly owns 33,434 shares in the company, valued at approximately $875,970.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. 15.80% of the stock is owned by corporate insiders.
NASDAQ ATRO traded up $0.16 during trading hours on Friday, hitting $31.07. 172,400 shares of the company’s stock traded hands, compared to its average volume of 240,472. The company has a market capitalization of $1.03 billion, a PE ratio of 22.04, a PEG ratio of 2.42 and a beta of 1.40. Astronics Co. has a 52-week low of $25.85 and a 52-week high of $44.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.97 and a quick ratio of 1.77. The firm’s 50-day moving average is $29.81 and its 200-day moving average is $34.20.
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.
Read More: What causes a stock to be most active?
Want to see what other hedge funds are holding ATRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astronics Co. (NASDAQ:ATRO).
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.