Royce & Associates LP Trims Stock Position in Astronics Corporation $ATRO

Royce & Associates LP decreased its position in Astronics Corporation (NASDAQ:ATRO) by 14.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 604,777 shares of the aerospace company’s stock after selling 101,129 shares during the period. Royce & Associates LP owned 1.71% of Astronics worth $27,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its position in Astronics by 58.6% during the 3rd quarter. American Century Companies Inc. now owns 539,006 shares of the aerospace company’s stock valued at $24,584,000 after purchasing an additional 199,059 shares in the last quarter. US Bancorp DE raised its holdings in shares of Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 281 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in Astronics in the third quarter worth about $667,000. AXQ Capital LP bought a new position in Astronics during the 3rd quarter worth about $368,000. Finally, Equitable Trust Co. increased its position in Astronics by 28.3% during the 3rd quarter. Equitable Trust Co. now owns 13,340 shares of the aerospace company’s stock valued at $608,000 after purchasing an additional 2,945 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 0.5%

Shares of NASDAQ:ATRO opened at $80.62 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71. The firm has a market capitalization of $2.87 billion, a P/E ratio of 104.70 and a beta of 1.06. The business’s 50-day moving average is $70.49 and its 200 day moving average is $54.49. Astronics Corporation has a 1 year low of $19.51 and a 1 year high of $81.89.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. The firm had revenue of $240.07 million for the quarter, compared to the consensus estimate of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, research analysts predict that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATRO has been the topic of a number of recent research reports. Truist Financial increased their price objective on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. TD Cowen initiated coverage on Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. Finally, CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Astronics presently has an average rating of “Buy” and an average target price of $77.33.

Astronics 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.