Astronics Corporation $ATRO Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its position in Astronics Corporation (NASDAQ:ATRO) by 20.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,689 shares of the aerospace company’s stock after purchasing an additional 13,613 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Astronics were worth $6,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Astronics by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after purchasing an additional 39,527 shares during the period. Capital International Investors boosted its position in Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after buying an additional 442,886 shares during the last quarter. State Street Corp increased its holdings in Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after buying an additional 379,811 shares during the period. Geode Capital Management LLC increased its holdings in Astronics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after buying an additional 7,968 shares during the period. Finally, Millennium Management LLC raised its position in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after buying an additional 332,133 shares during the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Stock Performance

Shares of NASDAQ:ATRO opened at $77.75 on Monday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 12-month low of $24.77 and a 12-month high of $88.72. The business has a 50 day moving average of $73.91 and a two-hundred day moving average of $66.61. The company has a market capitalization of $3.34 billion, a PE ratio of 79.07 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating 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 firm had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts forecast that Astronics Corporation will post 2.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ATRO. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Finally, TD Cowen increased their price target on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $74.17.

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.