Astronics Corporation $ATRO Shares Sold by Earnest Partners LLC

Earnest Partners LLC cut its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 45.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,621 shares of the aerospace company’s stock after selling 106,854 shares during the period. Earnest Partners LLC owned 0.36% of Astronics worth $5,912,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 470 shares during the last quarter. US Bancorp DE raised its holdings in shares of Astronics by 41.0% in the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 281 shares during the period. Covestor Ltd lifted its stake in shares of Astronics by 25.4% in the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 216 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Astronics by 250.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after purchasing an additional 875 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Down 5.8%

NASDAQ ATRO opened at $63.93 on Monday. The stock has a market cap of $2.28 billion, a PE ratio of 83.03 and a beta of 1.06. Astronics Corporation has a fifty-two week low of $19.89 and a fifty-two week high of $83.96. The business has a 50 day moving average price of $74.26 and a two-hundred day moving average price of $57.23. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data 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 company had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. During the same quarter last year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

ATRO has been the subject of a number of research analyst reports. Craig Hallum reissued a “buy” rating on shares of Astronics in a research report on Friday, January 9th. TD Cowen started coverage on shares of Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. CJS Securities raised shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Truist Financial lifted their target price on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Astronics currently has an average rating of “Buy” and a consensus price target of $77.33.

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.