Legato Capital Management LLC Acquires Shares of 6,750 Astronics Corporation $ATRO

Legato Capital Management LLC acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,750 shares of the aerospace company’s stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Astronics by 147.6% during 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 last quarter. Leonteq Securities AG bought a new position in shares of Astronics during the 4th quarter valued at about $33,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Astronics by 166.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 470 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Up 0.7%

Shares of NASDAQ ATRO opened at $85.01 on Thursday. The firm’s 50-day moving average price is $73.92 and its 200-day moving average price is $67.75. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 72.04 and a beta of 1.10. Astronics Corporation has a 12-month low of $27.27 and a 12-month high of $86.96.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same period in the prior year, the company earned $0.44 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Astronics Corporation will post 2.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Finally, Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Astronics currently has a consensus rating of “Moderate Buy” and an average target price 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.