Minerva Advisors LLC Has $8.90 Million Stock Holdings in Astronics Corporation $ATRO

Minerva Advisors LLC reduced its holdings in Astronics Corporation (NASDAQ:ATRO) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,041 shares of the aerospace company’s stock after selling 60,864 shares during the quarter. Astronics makes up approximately 5.7% of Minerva Advisors LLC’s holdings, making the stock its 6th largest holding. Minerva Advisors LLC’s holdings in Astronics were worth $8,896,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Millennium Management LLC raised its position in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Astronics by 659.8% in the second quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock valued at $11,381,000 after buying an additional 295,208 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Astronics in the third quarter valued at $11,617,000. BNP Paribas Financial Markets raised its holdings in shares of Astronics by 186.0% in the second quarter. BNP Paribas Financial Markets now owns 352,075 shares of the aerospace company’s stock valued at $11,787,000 after buying an additional 228,958 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Astronics by 579.4% during the 1st quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company’s stock worth $5,571,000 after buying an additional 196,568 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ATRO has been the subject of several research reports. Truist Financial raised their price objective on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. CJS Securities raised shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-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 Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $77.33.

Astronics Stock Down 7.0%

Shares of NASDAQ:ATRO opened at $75.68 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 98.29 and a beta of 1.06. The company has a 50 day moving average of $71.41 and a 200-day moving average of $55.13. Astronics Corporation has a one year low of $19.51 and a one year high of $83.96.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The firm had revenue of $240.07 million for the quarter, compared to analysts’ expectations of $237.11 million. During the same period last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current 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.