110,412 Shares in Astronics Corporation $ATRO Purchased by Walleye Capital LLC

Walleye Capital LLC purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO) in the first quarter, HoldingsChannel reports. The institutional investor purchased 110,412 shares of the aerospace company’s stock, valued at approximately $7,368,000.

Other hedge funds have also modified their holdings of the company. Quarry LP lifted its position in shares of Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Astronics by 19.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after buying an additional 188 shares in the last quarter. Allworth Financial LP grew its position in Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the period. US Bancorp DE raised its stake in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in Astronics by 24.5% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after acquiring an additional 300 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Astronics Stock Performance

Astronics stock opened at $70.89 on Thursday. The company has a market cap of $3.05 billion, a PE ratio of 72.09 and a beta of 1.13. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 1 year low of $22.73 and a 1 year high of $88.72. The company’s 50-day moving average is $73.24 and its two-hundred day moving average is $65.21.

Astronics (NASDAQ:ATRO) last announced 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 business had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. During the same period in the prior year, the business posted $0.37 earnings per share. Astronics’s revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Astronics Corporation will post 2.62 earnings per share for the current 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.