12,695 Shares in Astronics Corporation $ATRO Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,695 shares of the aerospace company’s stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its position in Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 448 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the period. Quarry LP boosted its position in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares during the period. Finally, Leonteq Securities AG bought a new position in Astronics in the 4th quarter worth approximately $33,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ATRO shares. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Finally, TD Cowen upped their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $74.17.

Astronics Stock Performance

Shares of ATRO opened at $77.51 on Thursday. The firm’s 50 day moving average is $76.13 and its 200-day moving average is $68.29. The stock has a market capitalization of $3.33 billion, a P/E ratio of 45.59 and a beta of 1.15. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63. Astronics Corporation has a 12-month low of $29.65 and a 12-month high of $94.46.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The firm’s revenue was up 46.9% compared to the same quarter last year. Equities research analysts anticipate that Astronics Corporation will post 2.74 EPS 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.