EntryPoint Capital LLC Sells 19,768 Shares of Astronics Corporation $ATRO

EntryPoint Capital LLC lessened its holdings in Astronics Corporation (NASDAQ:ATRO) by 58.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,798 shares of the aerospace company’s stock after selling 19,768 shares during the quarter. EntryPoint Capital LLC’s holdings in Astronics were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ATRO. Wells Fargo & Company MN boosted its position in shares of Astronics by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 18,209 shares of the aerospace company’s stock valued at $291,000 after acquiring an additional 3,775 shares during the period. Legal & General Group Plc boosted its position in shares of Astronics by 2.7% in the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company’s stock valued at $1,092,000 after acquiring an additional 1,770 shares during the period. Barclays PLC boosted its position in shares of Astronics by 16.9% in the fourth quarter. Barclays PLC now owns 52,960 shares of the aerospace company’s stock valued at $846,000 after acquiring an additional 7,647 shares during the period. Marshall Wace LLP boosted its position in shares of Astronics by 259.8% in the fourth quarter. Marshall Wace LLP now owns 145,626 shares of the aerospace company’s stock valued at $2,324,000 after acquiring an additional 105,157 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Astronics in the fourth quarter valued at about $179,000. Institutional investors own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Zacks Research raised shares of Astronics to a “strong-buy” rating in a research report on Friday, August 8th. Finally, Truist Financial raised shares of Astronics from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Astronics presently has an average rating of “Strong Buy” and an average price target of $49.00.

Astronics Stock Up 3.5%

ATRO stock opened at $35.60 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of -296.64 and a beta of 1.64. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 12 month low of $14.13 and a 12 month high of $37.31. The firm has a 50-day moving average price of $33.87 and a 200-day moving average price of $27.83.

Astronics (NASDAQ:ATRO) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $204.68 million during the quarter, compared to analysts’ expectations of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. As a group, equities research analysts anticipate that Astronics Corporation will post 0.82 EPS for the current fiscal 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.