Senator Investment Group LP Sells 14,829 Shares of Astronics Corporation $ATRO

Senator Investment Group LP trimmed its position in shares of Astronics Corporation (NASDAQ:ATRO) by 68.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,702 shares of the aerospace company’s stock after selling 14,829 shares during the period. Senator Investment Group LP’s holdings in Astronics were worth $545,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ATRO. AQR Capital Management LLC lifted its holdings in shares of Astronics by 20.4% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Astronics by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock valued at $423,000 after acquiring an additional 1,069 shares during the last quarter. Millennium Management LLC increased its stake in Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after acquiring an additional 332,133 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after purchasing 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 Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after purchasing an additional 13,104 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $75.71 on Monday. The firm has a market cap of $3.26 billion, a P/E ratio of 44.54 and a beta of 1.15. Astronics Corporation has a 12-month low of $29.65 and a 12-month high of $94.46. The business has a fifty day simple moving average of $75.98 and a 200 day simple moving average of $68.46. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The firm had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. Analysts predict that Astronics Corporation will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ATRO. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, TD Cowen raised their price objective on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $74.17.

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.