Nordea Investment Management AB Sells 13,430 Shares of Astronics Corporation $ATRO

Nordea Investment Management AB lowered its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 14.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,755 shares of the aerospace company’s stock after selling 13,430 shares during the quarter. Nordea Investment Management AB’s holdings in Astronics were worth $4,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Astronics by 20.4% during the 1st 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Astronics by 6.5% in the 1st 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 during the period. Millennium Management LLC lifted its stake in shares of Astronics by 80.1% in the 1st 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 during the period. Goldman Sachs Group Inc. boosted its position in shares of Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after purchasing an additional 46,054 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Astronics by 22.3% in the first 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 during the period. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Craig Hallum reissued a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Truist Financial boosted their price objective on shares of Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, CJS Securities raised shares of Astronics to a “strong-buy” rating in a research note 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’s stock. Based on data from MarketBeat.com, Astronics has an average rating of “Buy” and an average price target of $77.33.

Astronics Trading Down 0.8%

NASDAQ ATRO opened at $64.78 on Friday. Astronics Corporation has a 12 month low of $19.89 and a 12 month high of $83.96. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The stock’s fifty day moving average price is $74.45 and its 200-day moving average price is $59.02. The stock has a market cap of $2.31 billion, a P/E ratio of 84.13 and a beta of 1.06.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. The firm had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.Astronics’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, equities analysts forecast that Astronics Corporation will post 0.82 EPS for the current fiscal 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.