Walleye Capital LLC Invests $7.37 Million in Astronics Corporation $ATRO

Walleye Capital LLC purchased a new stake in shares of Astronics Corporation (NASDAQ:ATRO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 110,412 shares of the aerospace company’s stock, valued at approximately $7,368,000. Walleye Capital LLC owned about 0.31% of Astronics at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quarry LP raised its position in Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Astronics by 19.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 188 shares during 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 worth $29,000 after acquiring an additional 192 shares in the last quarter. US Bancorp DE increased its stake in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 281 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Astronics by 24.5% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Astronics Trading Up 2.7%

Shares of ATRO opened at $70.89 on Thursday. The stock’s 50-day moving average price is $73.24 and its 200 day moving average price is $65.21. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 72.09 and a beta of 1.13. Astronics Corporation has a 12-month low of $22.73 and a 12-month high of $88.72.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. As a group, research analysts predict 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.