Petra Financial Advisors Inc. Invests $531,000 in Astronics Corporation $ATRO

Petra Financial Advisors Inc. acquired a new position in Astronics Corporation (NASDAQ:ATRO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,792 shares of the aerospace company’s stock, valued at approximately $531,000.

Several other hedge funds have also recently made changes to their positions in ATRO. AQR Capital Management LLC raised its position in shares of Astronics by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock worth $2,712,000 after acquiring an additional 18,975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 1,069 shares in the last quarter. Millennium Management LLC raised its position in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Astronics by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock worth $5,377,000 after acquiring an additional 46,054 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Astronics by 22.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock worth $1,735,000 after acquiring an additional 13,104 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ATRO. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Truist Financial boosted their target price on Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Finally, CJS Securities raised Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $77.33.

Astronics Stock Performance

Shares of Astronics stock opened at $71.83 on Wednesday. Astronics Corporation has a one year low of $19.89 and a one year high of $83.96. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 93.29 and a beta of 1.11. The business has a 50-day simple moving average of $73.44 and a 200 day simple moving average of $60.67. 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 earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Astronics Corporation will post 0.82 earnings per share 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.