16,875 Shares in Astronics Co. (NASDAQ:ATRO) Acquired by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC acquired a new position in Astronics Co. (NASDAQ:ATRO) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 16,875 shares of the aerospace company’s stock, valued at approximately $269,000.

Other institutional investors also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 2,791 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Astronics in the fourth quarter worth approximately $73,000. Arcadia Investment Management Corp MI bought a new position in shares of Astronics in the fourth quarter worth approximately $135,000. Freestone Grove Partners LP bought a new position in shares of Astronics in the fourth quarter worth approximately $172,000. Finally, Victory Capital Management Inc. bought a new position in shares of Astronics in the fourth quarter worth approximately $178,000. 56.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATRO has been the topic of several research analyst reports. StockNews.com upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 9th. Truist Financial reduced their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th.

Insider Activity

In other news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the sale, the director now owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.39% of the company’s stock.

Astronics Stock Down 0.4%

Shares of NASDAQ ATRO opened at $30.04 on Tuesday. Astronics Co. has a one year low of $14.13 and a one year high of $30.37. 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’s 50 day simple moving average is $24.33 and its two-hundred day simple moving average is $20.04. The stock has a market capitalization of $1.06 billion, a P/E ratio of -158.10 and a beta of 1.44.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $205.94 million for the quarter, compared to analysts’ expectations of $192.53 million. As a group, analysts expect that Astronics Co. will post 0.82 EPS for the current fiscal year.

About Astronics

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.