Hennion & Walsh Asset Management Inc. Purchases 19,029 Shares of Astronics Corporation $ATRO

Hennion & Walsh Asset Management Inc. boosted its position in Astronics Corporation (NASDAQ:ATRO) by 75.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,166 shares of the aerospace company’s stock after acquiring an additional 19,029 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.12% of Astronics worth $2,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Astronics by 3.1% during the third quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock worth $323,000 after purchasing an additional 216 shares during the period. Ameritas Investment Partners Inc. raised its position in Astronics by 13.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 369 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Astronics by 2.3% in the 2nd quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock worth $643,000 after buying an additional 435 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Astronics by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,983 shares of the aerospace company’s stock worth $368,000 after buying an additional 451 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of Astronics by 30.0% during the second quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company’s stock valued at $77,000 after buying an additional 529 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 11.3%

Shares of NASDAQ ATRO opened at $64.81 on Friday. Astronics Corporation has a 1 year low of $15.56 and a 1 year high of $65.47. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56. The firm has a 50-day moving average of $52.47 and a 200 day moving average of $43.68. The stock has a market cap of $2.31 billion, a P/E ratio of -720.03 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The business had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. As a group, sell-side analysts expect that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

ATRO has been the subject of a number of research analyst reports. Cowen began coverage on Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating for the company. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, TD Cowen initiated coverage on Astronics in a report on Wednesday, November 26th. They set a “buy” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Astronics presently has an average rating of “Moderate Buy” and an average target price of $61.00.

Astronics Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.