Astronics Corporation $ATRO Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Astronics Corporation (NASDAQ:ATRO) by 35.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,045 shares of the aerospace company’s stock after purchasing an additional 4,440 shares during the period. Los Angeles Capital Management LLC’s holdings in Astronics were worth $571,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its stake in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 679 shares in the last quarter. CWM LLC raised its stake in Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after buying an additional 1,705 shares in the last quarter. Penserra Capital Management LLC bought a new position in Astronics during the 2nd quarter worth approximately $66,000. Elyxium Wealth LLC acquired a new position in shares of Astronics in the 2nd quarter worth approximately $209,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Astronics in the 2nd quarter worth approximately $219,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Insiders Place Their Bets

In other news, insider James Mulato sold 1,129 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the transaction, the insider owned 1,066 shares in the company, valued at approximately $40,678.56. This trade represents a 51.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 9.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ATRO shares. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Craig Hallum assumed coverage on shares of Astronics in a research note on Friday, October 10th. They set a “buy” rating and a $60.00 target price for the company. Truist Financial increased their target price on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Astronics Stock Up 6.0%

Astronics stock opened at $52.15 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. Astronics Corporation has a one year low of $14.13 and a one year high of $52.58. The company has a 50-day simple moving average of $46.05 and a 200-day simple moving average of $37.36. The firm has a market capitalization of $1.85 billion, a P/E ratio of -434.55 and a beta of 1.63.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. The firm had revenue of $211.45 million for the quarter, compared to the consensus estimate of $210.80 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Astronics has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Astronics Corporation will post 0.82 earnings per share for the current year.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.