Astronics Corporation $ATRO Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its position in Astronics Corporation (NASDAQ:ATRO) by 14.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 604,777 shares of the aerospace company’s stock after selling 101,129 shares during the period. Royce & Associates LP’s holdings in Astronics were worth $27,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Nordea Investment Management AB purchased a new position in shares of Astronics during the third quarter worth $4,137,000. Principal Financial Group Inc. acquired a new stake in Astronics during the 3rd quarter worth about $2,204,000. Y Intercept Hong Kong Ltd raised its stake in shares of Astronics by 74.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after buying an additional 14,160 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in shares of Astronics in the 3rd quarter valued at about $918,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Astronics by 75.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after buying an additional 19,029 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. CJS Securities upgraded Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $77.33.

Astronics Price Performance

Shares of Astronics stock opened at $80.62 on Monday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 104.70 and a beta of 1.06. The business has a 50 day simple moving average of $70.49 and a two-hundred day simple moving average of $54.49. Astronics Corporation has a 12 month low of $19.51 and a 12 month high of $81.89. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The firm had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share. As a group, analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

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.