SummitTX Capital L.P. Has $432,000 Holdings in Astronics Corporation $ATRO

SummitTX Capital L.P. lessened its position in shares of Astronics Corporation (NASDAQ:ATRO) by 87.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,481 shares of the aerospace company’s stock after selling 46,965 shares during the period. SummitTX Capital L.P.’s holdings in Astronics were worth $432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Astronics by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after purchasing an additional 39,527 shares in the last quarter. Capital International Investors grew its holdings in shares of Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after buying an additional 442,886 shares in the last quarter. State Street Corp grew its holdings in shares of Astronics by 26.2% during the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after buying an additional 379,811 shares in the last quarter. Geode Capital Management LLC raised its position in Astronics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock valued at $41,033,000 after buying an additional 7,968 shares during the last quarter. Finally, Millennium Management LLC raised its position in 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 buying an additional 332,133 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Price Performance

NASDAQ:ATRO opened at $69.49 on Friday. Astronics Corporation has a 52-week low of $22.73 and a 52-week high of $88.72. The company has a market cap of $2.99 billion, a P/E ratio of 70.67 and a beta of 1.13. 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 stock’s 50-day simple moving average is $73.45 and its 200 day simple moving average is $66.01.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts forecast that Astronics Corporation will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

ATRO has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, TD Cowen increased their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Astronics presently has an average rating of “Buy” and an average target price of $74.17.

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.