Jupiter Topco LLC Makes New $1.09 Million Investment in Astronics Corporation $ATRO

Jupiter Topco LLC purchased a new position in Astronics Corporation (NASDAQ:ATRO) during the second quarter, Holdings Channel reports. The fund purchased 13,400 shares of the aerospace company’s stock, valued at approximately $1,089,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Astronics by 20.4% in the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Astronics by 6.5% during 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 purchasing an additional 1,069 shares in the last quarter. Millennium Management LLC raised its position in Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock worth $5,377,000 after purchasing an additional 46,054 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Astronics by 22.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock worth $1,735,000 after purchasing an additional 13,104 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 2.3%

NASDAQ ATRO opened at $76.26 on Friday. The firm has a market cap of $3.28 billion, a PE ratio of 44.86 and a beta of 1.20. Astronics Corporation has a 1-year low of $30.72 and a 1-year high of $94.46. The stock has a 50-day moving average of $74.99 and a 200-day moving average of $68.81. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. The business had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The firm’s revenue was up 46.9% on a year-over-year basis. As a group, sell-side analysts forecast that Astronics Corporation will post 2.74 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. TD Cowen lifted their price target on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Three investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus 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.