Senator Investment Group LP Sells 14,829 Shares of Astronics Corporation $ATRO

Senator Investment Group LP decreased its position in Astronics Corporation (NASDAQ:ATRO) by 68.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,702 shares of the aerospace company’s stock after selling 14,829 shares during the period. Senator Investment Group LP’s holdings in Astronics were worth $545,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ATRO. BlackRock Inc. acquired a new stake in Astronics during the 2nd quarter worth about $248,395,000. Vanguard Group Inc. lifted its stake in shares of Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after purchasing an additional 39,527 shares during the period. Capital International Investors lifted its stake in shares of Astronics by 31.5% in the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after purchasing an additional 442,886 shares during the period. State Street Corp boosted its position in shares of Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after purchasing an additional 379,811 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Astronics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock valued at $41,033,000 after purchasing an additional 7,968 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

NASDAQ ATRO opened at $75.71 on Monday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $75.98 and a 200 day simple moving average of $68.46. Astronics Corporation has a 12 month low of $29.65 and a 12 month high of $94.46. The firm has a market capitalization of $3.26 billion, a P/E ratio of 44.54 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The business had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, analysts predict that Astronics Corporation will post 2.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. TD Cowen lifted their price objective on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Astronics has an average rating of “Buy” and an average target price of $74.17.

Astronics Company Profile

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.