Brighton Jones LLC Buys New Position in Astronics Corporation $ATRO

Brighton Jones LLC bought a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 6,869 shares of the aerospace company’s stock, valued at approximately $230,000.

Other hedge funds have also modified their holdings of the company. Informed Momentum Co LLC purchased a new stake in shares of Astronics during the 1st quarter valued at about $3,070,000. Vanguard Group Inc. grew its stake in Astronics by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company’s stock valued at $38,711,000 after purchasing an additional 27,025 shares in the last quarter. Equitable Trust Co. acquired a new stake in Astronics during the 1st quarter valued at approximately $251,000. Envestnet Asset Management Inc. acquired a new stake in Astronics during the 1st quarter valued at approximately $5,521,000. Finally, PDT Partners LLC grew its stake in Astronics by 39.6% during the 1st quarter. PDT Partners LLC now owns 88,785 shares of the aerospace company’s stock valued at $2,146,000 after purchasing an additional 25,203 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ATRO shares. Wall Street Zen upgraded Astronics from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial raised their price objective on Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Finally, Craig Hallum started coverage on Astronics in a research note on Friday, October 10th. They set a “buy” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.00.

Insider Activity

In related news, insider James Mulato sold 1,129 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the sale, the insider owned 1,066 shares of the company’s stock, valued at approximately $40,678.56. This trade represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.39% of the company’s stock.

Astronics Trading Up 0.2%

Shares of NASDAQ ATRO opened at $49.18 on Friday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -409.80 and a beta of 1.68. Astronics Corporation has a 12-month low of $14.13 and a 12-month high of $51.88. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $43.79 and its 200 day simple moving average is $35.49.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The business had revenue of $204.68 million for the quarter, compared to the consensus estimate of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Equities research analysts expect that Astronics Corporation will post 0.82 EPS for the current 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.