Astronics Corporation $ATRO Shares Bought by Capital International Investors

Capital International Investors boosted its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,849,886 shares of the aerospace company’s stock after acquiring an additional 442,886 shares during the period. Capital International Investors owned about 0.05% of Astronics worth $100,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Astronics by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after acquiring an additional 39,527 shares during the last quarter. Luxor Capital Group LP acquired a new position in Astronics during the third quarter worth about $52,698,000. Geode Capital Management LLC raised its position in Astronics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after acquiring an additional 7,968 shares during the last quarter. Millennium Management LLC raised its position in Astronics by 80.1% during the first 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 during the last quarter. Finally, Private Capital Management LLC raised its position in Astronics by 39.4% during the third quarter. Private Capital Management LLC now owns 561,257 shares of the aerospace company’s stock worth $25,599,000 after acquiring an additional 158,714 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analysts Set New Price Targets

ATRO has been the subject of a number of research reports. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Finally, TD Cowen lifted their price target on shares of Astronics from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Astronics currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $84.32 on Tuesday. The company has a market cap of $3.02 billion, a PE ratio of 71.46 and a beta of 1.14. Astronics Corporation has a 12 month low of $27.27 and a 12 month high of $90.65. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The company has a 50-day simple moving average of $76.86 and a 200-day simple moving average of $69.81.

Astronics shares are going to split on the morning of Monday, June 15th. The 6-5 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities analysts anticipate that Astronics Corporation will post 2.68 earnings per share for the current year.

About Astronics

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.