Astronics Corporation $ATRO Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,936,166 shares of the aerospace company’s stock after acquiring an additional 105,311 shares during the period. Vanguard Group Inc. owned about 5.47% of Astronics worth $88,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB acquired a new position in Astronics in the third quarter worth about $4,137,000. Principal Financial Group Inc. acquired a new stake in Astronics during the third quarter valued at approximately $2,204,000. Y Intercept Hong Kong Ltd raised its stake in Astronics by 74.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after buying an additional 14,160 shares in the last quarter. Ellsworth Advisors LLC bought a new position in Astronics during the 3rd quarter worth approximately $918,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Astronics by 75.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after acquiring an additional 19,029 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ATRO. Truist Financial raised their price objective on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. TD Cowen initiated coverage on shares of Astronics in a research report on Wednesday, November 26th. They set a “buy” rating for the company. Finally, Craig Hallum reiterated a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $77.33.

Astronics Stock Down 4.8%

Astronics stock opened at $75.52 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. Astronics Corporation has a one year low of $19.89 and a one year high of $83.96. The company has a 50-day simple moving average of $72.29 and a 200-day simple moving average of $55.44. The firm has a market capitalization of $2.69 billion, a P/E ratio of 98.08 and a beta of 1.06.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The firm had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. During the same period in the previous year, the business posted $0.46 EPS. Astronics’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts expect that Astronics Corporation will post 0.82 earnings per share for the current 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.