Globeflex Capital L P Reduces Stake in Astronics Corporation $ATRO

Globeflex Capital L P trimmed its position in shares of Astronics Corporation (NASDAQ:ATRO) by 39.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,590 shares of the aerospace company’s stock after selling 14,038 shares during the quarter. Globeflex Capital L P’s holdings in Astronics were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Astronics by 389.6% in the third 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 period. Allworth Financial LP grew its stake in Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after buying an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 worth $30,000 after buying an additional 533 shares in the last quarter. Leonteq Securities AG purchased a new position in Astronics in the 4th quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp grew its stake in Astronics by 166.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock worth $34,000 after buying an additional 470 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ATRO. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. TD Cowen boosted their price target on shares of Astronics from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.00.

Astronics Price Performance

Shares of Astronics stock opened at $87.33 on Friday. Astronics Corporation has a 52-week low of $27.27 and a 52-week high of $90.65. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 74.01 and a beta of 1.15. The company has a fifty day moving average of $76.15 and a 200-day moving average of $69.32. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97.

Astronics’s stock is scheduled to split on Monday, June 15th. The 6-5 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that Astronics Corporation will post 2.68 EPS 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.