Minerva Advisors LLC Sells 60,864 Shares of Astronics Corporation $ATRO

Minerva Advisors LLC lowered its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 23.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,041 shares of the aerospace company’s stock after selling 60,864 shares during the quarter. Astronics comprises approximately 5.7% of Minerva Advisors LLC’s holdings, making the stock its 6th largest holding. Minerva Advisors LLC owned 0.55% of Astronics worth $8,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 533 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Astronics by 166.7% in the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after buying an additional 470 shares during the period. US Bancorp DE grew its position in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after buying an additional 281 shares in the last quarter. Covestor Ltd increased its stake in Astronics by 25.4% during the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 216 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in Astronics by 250.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after acquiring an additional 875 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Stock Performance

Shares of NASDAQ:ATRO opened at $75.68 on Wednesday. The business’s fifty day moving average price is $71.41 and its two-hundred day moving average price is $55.13. Astronics Corporation has a fifty-two week low of $19.51 and a fifty-two week high of $83.96. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 98.29 and a beta of 1.06. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The company had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. During the same period last year, the business earned $0.46 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. As a group, analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Craig Hallum restated a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. CJS Securities raised shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, TD Cowen started coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Astronics currently has a consensus rating of “Buy” and an average target price of $77.33.

About Astronics

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.