Teton Advisors LLC Takes $5.02 Million Position in Astronics Corporation $ATRO

Teton Advisors LLC bought a new stake in Astronics Corporation (NASDAQ:ATRO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 110,000 shares of the aerospace company’s stock, valued at approximately $5,017,000. Astronics comprises 3.1% of Teton Advisors LLC’s investment portfolio, making the stock its 3rd largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATRO. Nordea Investment Management AB bought a new stake in Astronics in the third quarter valued at approximately $4,137,000. Principal Financial Group Inc. bought a new position in shares of Astronics during the 3rd quarter worth approximately $2,204,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Astronics by 74.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock worth $1,508,000 after acquiring an additional 14,160 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of Astronics during the 3rd quarter worth approximately $918,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Astronics by 75.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after acquiring an additional 19,029 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ATRO shares. Truist Financial raised their price target on Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Finally, TD Cowen assumed coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. Two 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’s stock. According to data from MarketBeat.com, Astronics presently has a consensus rating of “Buy” and a consensus price target of $77.33.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $75.99 on Friday. The firm has a market cap of $2.71 billion, a P/E ratio of 98.69 and a beta of 1.06. The business’s 50 day moving average is $72.70 and its 200-day moving average is $55.72. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 1-year low of $19.89 and a 1-year high of $83.96.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results 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. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts predict that Astronics Corporation will post 0.82 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.