Astronics Co. (NASDAQ:ATRO) Holdings Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in Astronics Co. (NASDAQ:ATRO) by 81.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,966 shares of the aerospace company’s stock after acquiring an additional 8,969 shares during the period. Jacobs Levy Equity Management Inc. owned 0.06% of Astronics worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Graham Capital Management L.P. acquired a new stake in Astronics during the fourth quarter valued at approximately $214,000. Deutsche Bank AG raised its holdings in shares of Astronics by 10.8% during the fourth quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company’s stock valued at $1,445,000 after acquiring an additional 8,859 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Astronics by 310.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 203,341 shares of the aerospace company’s stock valued at $3,245,000 after buying an additional 153,839 shares during the period. Cubist Systematic Strategies LLC increased its stake in Astronics by 95.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 158,211 shares of the aerospace company’s stock valued at $2,525,000 after buying an additional 77,301 shares during the period. Finally, Bank of America Corp DE increased its stake in Astronics by 48.2% in the 4th quarter. Bank of America Corp DE now owns 35,129 shares of the aerospace company’s stock valued at $561,000 after buying an additional 11,427 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the transaction, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. This trade represents a 92.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Truist Financial dropped their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. StockNews.com upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 9th.

Astronics Stock Performance

NASDAQ ATRO opened at $30.17 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -158.78 and a beta of 1.44. The company’s fifty day moving average is $24.22 and its two-hundred day moving average is $19.94. Astronics Co. has a 52-week low of $14.13 and a 52-week high of $30.31.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. The company had revenue of $205.94 million during the quarter, compared to the consensus estimate of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. Equities research analysts forecast that Astronics Co. will post 0.82 EPS for the current year.

Astronics Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.