RBF Capital LLC Takes $6.70 Million Position in Astronics Corporation $ATRO

RBF Capital LLC acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 100,372 shares of the aerospace company’s stock, valued at approximately $6,698,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after purchasing an additional 39,527 shares in the last quarter. Capital International Investors boosted its holdings in Astronics by 31.5% in the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after purchasing an additional 442,886 shares during the period. State Street Corp grew its position in shares of Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after purchasing an additional 379,811 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Astronics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock valued at $41,033,000 after purchasing an additional 7,968 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $65.14 on Thursday. The company’s fifty day moving average price is $73.37 and its 200-day moving average price is $65.89. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 66.24 and a beta of 1.13. Astronics Corporation has a one year low of $22.73 and a one year high of $88.72. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter last year, the company posted $0.37 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities research analysts anticipate that Astronics Corporation will post 2.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, TD Cowen raised their price target on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $74.17.

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.