Royce & Associates LP Trims Position in Astronics Corporation $ATRO

Royce & Associates LP lessened its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 520,597 shares of the aerospace company’s stock after selling 84,180 shares during the period. Royce & Associates LP’s holdings in Astronics were worth $28,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Astronics by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after acquiring an additional 39,527 shares during the period. Capital International Investors purchased a new position in shares of Astronics during the 3rd quarter worth $64,173,000. Luxor Capital Group LP purchased a new position in shares of Astronics during the 3rd quarter worth $52,698,000. Millennium Management LLC raised its holdings in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares during the period. Finally, Private Capital Management LLC raised its holdings in shares of Astronics by 39.4% during the 3rd quarter. Private Capital Management LLC now owns 561,257 shares of the aerospace company’s stock worth $25,599,000 after acquiring an additional 158,714 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

Astronics stock opened at $80.86 on Tuesday. Astronics Corporation has a fifty-two week low of $27.27 and a fifty-two week high of $86.27. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The firm has a 50 day moving average price of $73.19 and a 200 day moving average price of $67.22. The company has a market capitalization of $2.90 billion, a PE ratio of 68.53 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Research analysts expect that Astronics Corporation will post 2.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented 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 lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Finally, Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.33.

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.