Sei Investments Co. Has $4.74 Million Stock Position in Astronics Corporation $ATRO

Sei Investments Co. raised its stake in Astronics Corporation (NASDAQ:ATRO) by 153.4% during the 1st quarter, Holdings Channel reports. The fund owned 71,039 shares of the aerospace company’s stock after acquiring an additional 43,007 shares during the period. Sei Investments Co.’s holdings in Astronics were worth $4,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ATRO. IFP Advisors Inc increased its stake in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 448 shares during the period. Allworth Financial LP lifted its holdings in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 533 shares during the period. Quarry LP grew its holdings in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after buying an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Astronics in the 4th quarter valued at $33,000. Institutional investors own 56.68% of the company’s stock.

Analysts Set New Price Targets

ATRO has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. TD Cowen boosted their price objective on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $74.17.

Astronics Stock Performance

NASDAQ:ATRO opened at $77.19 on Thursday. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 78.50 and a beta of 1.15. Astronics Corporation has a fifty-two week low of $22.73 and a fifty-two week high of $88.72. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The stock has a fifty day moving average price of $73.75 and a 200-day moving average price of $66.40.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same period in the previous year, the business earned $0.37 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that Astronics Corporation will post 2.62 EPS for the current fiscal year.

About Astronics

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.