EntryPoint Capital LLC Acquires 23,386 Shares of Astronics Co. (NASDAQ:ATRO)

EntryPoint Capital LLC lifted its stake in Astronics Co. (NASDAQ:ATRO) by 229.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,566 shares of the aerospace company’s stock after buying an additional 23,386 shares during the period. EntryPoint Capital LLC owned approximately 0.10% of Astronics worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Astronics by 328.2% during the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock valued at $883,000 after acquiring an additional 34,730 shares during the period. Algert Global LLC lifted its position in Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after purchasing an additional 44,070 shares during the period. Ironwood Investment Management LLC bought a new position in Astronics in the 4th quarter valued at about $439,000. Royce & Associates LP raised its position in shares of Astronics by 18.7% in the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock valued at $18,360,000 after buying an additional 181,619 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Astronics during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ATRO shares. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Truist Financial raised their price objective on Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, March 5th.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $26.40 on Tuesday. Astronics Co. has a one year low of $14.13 and a one year high of $26.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The company has a market cap of $931.10 million, a price-to-earnings ratio of -138.94 and a beta of 1.74. The firm has a 50 day simple moving average of $20.16 and a 200 day simple moving average of $18.62.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. The company had revenue of $208.54 million during the quarter, compared to analysts’ expectations of $194.91 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. During the same period in the prior year, the company earned $0.35 EPS. Research analysts predict that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares in the company, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.86% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.