Scout Investments Inc. Increases Position in Astronics Co. (ATRO)

Scout Investments Inc. boosted its position in Astronics Co. (NASDAQ:ATRO) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 115,353 shares of the aerospace company’s stock after buying an additional 2,412 shares during the quarter. Scout Investments Inc.’s holdings in Astronics were worth $5,018,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Astronics by 6.2% in the 2nd quarter. BlackRock Inc. now owns 2,616,726 shares of the aerospace company’s stock valued at $94,122,000 after acquiring an additional 153,154 shares during the period. Royal Bank of Canada raised its stake in Astronics by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,223,053 shares of the aerospace company’s stock valued at $45,620,000 after acquiring an additional 20,800 shares during the period. Dimensional Fund Advisors LP raised its stake in Astronics by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 804,046 shares of the aerospace company’s stock valued at $29,991,000 after acquiring an additional 4,151 shares during the period. Paradice Investment Management LLC raised its stake in Astronics by 7.8% in the 2nd quarter. Paradice Investment Management LLC now owns 638,225 shares of the aerospace company’s stock valued at $22,957,000 after acquiring an additional 46,233 shares during the period. Finally, Northern Trust Corp raised its stake in Astronics by 2.9% in the 2nd quarter. Northern Trust Corp now owns 319,284 shares of the aerospace company’s stock valued at $11,484,000 after acquiring an additional 9,068 shares during the period. Institutional investors and hedge funds own 71.12% of the company’s stock.

In other news, insider James S. Kramer sold 11,800 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $46.02, for a total transaction of $543,036.00. Following the sale, the insider now directly owns 42,003 shares in the company, valued at $1,932,978.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Peter J. Gundermann sold 47,322 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.00, for a total value of $2,129,490.00. Following the sale, the chief executive officer now owns 54,743 shares in the company, valued at $2,463,435. The disclosure for this sale can be found here. Corporate insiders own 16.57% of the company’s stock.

ATRO has been the topic of a number of research reports. TheStreet upgraded Astronics from a “c+” rating to a “b-” rating in a research note on Tuesday, October 9th. BidaskClub upgraded Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. ValuEngine upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research upgraded Astronics from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, October 3rd. Finally, Canaccord Genuity reiterated a “hold” rating and set a $41.00 price target on shares of Astronics in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Astronics presently has an average rating of “Hold” and an average price target of $42.25.

Shares of ATRO opened at $32.89 on Friday. Astronics Co. has a twelve month low of $31.78 and a twelve month high of $49.45. The stock has a market cap of $952.59 million, a PE ratio of 26.31, a P/E/G ratio of 2.28 and a beta of 1.92. The company has a current ratio of 3.05, a quick ratio of 1.68 and a debt-to-equity ratio of 0.75.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Friday, August 3rd. The aerospace company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.09. Astronics had a return on equity of 10.28% and a net margin of 2.50%. The firm had revenue of $208.60 million for the quarter, compared to analysts’ expectations of $195.91 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 38.1% on a year-over-year basis. As a group, sell-side analysts predict that Astronics Co. will post 1.49 earnings per share for the current fiscal year.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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Institutional Ownership by Quarter for Astronics (NASDAQ:ATRO)

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