First Trust Advisors LP Purchases 10,014 Shares of Astronics Corporation $ATRO

First Trust Advisors LP boosted its position in Astronics Corporation (NASDAQ:ATRO) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,492 shares of the aerospace company’s stock after buying an additional 10,014 shares during the quarter. First Trust Advisors LP’s holdings in Astronics were worth $16,916,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ATRO. Capital International Investors lifted its position in Astronics by 31.5% during the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after acquiring an additional 442,886 shares during the last quarter. State Street Corp grew its position in shares of Astronics by 26.2% in the fourth 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 during the last quarter. Congruence Capital LLC acquired a new stake in shares of Astronics in the fourth quarter valued at about $19,658,000. Millennium Management LLC increased its stake 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. Finally, Lazard Asset Management LLC increased its stake in shares of Astronics by 4,791.1% in the third quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock worth $10,770,000 after purchasing an additional 231,312 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

NASDAQ:ATRO opened at $65.14 on Thursday. The firm’s 50-day moving average is $73.37 and its 200-day moving average is $65.89. Astronics Corporation has a 52-week low of $22.73 and a 52-week high of $88.72. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 66.24 and a beta of 1.13.

Astronics (NASDAQ:ATRO) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that Astronics Corporation will post 2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

ATRO has been the subject of several research analyst reports. TD Cowen boosted their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Truist Financial raised Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $74.17.

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.