Astronics Corporation $ATRO Stock Position Reduced by Next Century Growth Investors LLC

Next Century Growth Investors LLC cut its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 12.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,067,612 shares of the aerospace company’s stock after selling 146,675 shares during the period. Astronics comprises approximately 4.0% of Next Century Growth Investors LLC’s holdings, making the stock its largest position. Next Century Growth Investors LLC owned approximately 3.00% of Astronics worth $57,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Astronics by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after purchasing an additional 39,527 shares in the last quarter. Capital International Investors grew its position in Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after purchasing an additional 442,886 shares in the last quarter. State Street Corp grew its position in Astronics by 26.2% during the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after purchasing an additional 379,811 shares in the last quarter. Luxor Capital Group LP purchased a new position in Astronics during the third quarter valued at approximately $52,698,000. Finally, Geode Capital Management LLC grew its position in Astronics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock valued at $41,033,000 after purchasing an additional 7,968 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Performance

ATRO stock opened at $96.00 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The firm has a 50 day moving average of $78.72 and a two-hundred day moving average of $70.82. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 81.36 and a beta of 1.15. Astronics Corporation has a 12 month low of $27.27 and a 12 month high of $99.89.

Astronics’s stock is going to split on Monday, June 15th. The 6-5 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. Astronics’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. As a group, equities analysts anticipate that Astronics Corporation will post 2.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on ATRO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen downgraded shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. TD Cowen boosted their target price on shares of Astronics from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Truist Financial raised shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Astronics presently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.