Astronics Corporation $ATRO Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Astronics Corporation (NASDAQ:ATRO) by 58.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,667 shares of the aerospace company’s stock after selling 24,356 shares during the period. SG Americas Securities LLC’s holdings in Astronics were worth $1,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Diversified Trust Co lifted its position in Astronics by 13.8% during the first quarter. Diversified Trust Co now owns 4,684 shares of the aerospace company’s stock valued at $313,000 after purchasing an additional 569 shares during the period. Hsbc Holdings PLC boosted its holdings in Astronics by 2,291.3% in the fourth quarter. Hsbc Holdings PLC now owns 148,309 shares of the aerospace company’s stock valued at $8,120,000 after purchasing an additional 142,107 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in Astronics during the 4th quarter worth about $568,000. Virtu Financial LLC acquired a new stake in Astronics during the 4th quarter worth about $342,000. Finally, Invesco Ltd. raised its stake in shares of Astronics by 63.0% during the 4th quarter. Invesco Ltd. now owns 205,672 shares of the aerospace company’s stock valued at $11,156,000 after buying an additional 79,469 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. Finally, TD Cowen raised their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Astronics currently has an average rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Stock Performance

Shares of Astronics stock opened at $70.83 on Friday. The firm has a 50-day simple moving average of $71.11 and a two-hundred day simple moving average of $62.78. The company has a market cap of $3.05 billion, a P/E ratio of 72.03 and a beta of 1.13. Astronics Corporation has a fifty-two week low of $22.73 and a fifty-two week high of $88.72. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. During the same period in the prior year, the company posted $0.37 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Astronics Corporation will post 2.23 earnings per share for the current fiscal year.

Astronics Company 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.