Hsbc Holdings PLC Sells 50,330 Shares of Astronics Corporation $ATRO

Hsbc Holdings PLC lessened its holdings in Astronics Corporation (NASDAQ:ATRO) by 34.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,903 shares of the aerospace company’s stock after selling 50,330 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Astronics worth $7,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATRO. IFP Advisors Inc boosted its stake in shares of Astronics by 389.6% during 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 holdings in shares of Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 during the period. Quarry LP increased its stake in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares during the period. Finally, Leonteq Securities AG bought a new stake in Astronics during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ATRO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. TD Cowen increased their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.17.

Astronics Trading Down 0.5%

NASDAQ:ATRO opened at $75.60 on Thursday. Astronics Corporation has a one year low of $32.62 and a one year high of $94.46. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.63 and a current ratio of 2.97. The firm has a market cap of $3.25 billion, a P/E ratio of 44.47 and a beta of 1.20. The firm has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $69.08.

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