Sei Investments Co. Acquires 43,007 Shares of Astronics Corporation $ATRO

Sei Investments Co. increased its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 153.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,039 shares of the aerospace company’s stock after acquiring an additional 43,007 shares during the quarter. Sei Investments Co. owned about 0.20% of Astronics worth $4,740,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. IFP Advisors Inc raised its stake in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 448 shares during the last quarter. Allworth Financial LP grew its holdings in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares during the last quarter. Quarry LP lifted its position in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Astronics during the fourth quarter valued at approximately $33,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Stock Up 2.1%

NASDAQ:ATRO opened at $77.19 on Thursday. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 78.50 and a beta of 1.15. Astronics Corporation has a twelve month low of $22.73 and a twelve month high of $88.72. The stock’s 50 day moving average price is $73.75 and its two-hundred day moving average price is $66.40. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. TD Cowen lifted 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 shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Three investment 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. Based on data from MarketBeat, the stock 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.