Los Angeles Capital Management LLC Lowers Stock Position in Astronics Co. (NASDAQ:ATRO)

Los Angeles Capital Management LLC reduced its position in Astronics Co. (NASDAQ:ATRO) by 10.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,486 shares of the aerospace company’s stock after selling 5,115 shares during the period. Los Angeles Capital Management LLC’s holdings in Astronics were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ATRO. DekaBank Deutsche Girozentrale raised its holdings in shares of Astronics by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after purchasing an additional 971 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Astronics during the 3rd quarter worth approximately $964,000. SG Americas Securities LLC raised its holdings in Astronics by 115.4% in the third quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock valued at $222,000 after buying an additional 6,101 shares during the period. Point72 Asset Management L.P. acquired a new position in Astronics during the second quarter valued at approximately $25,000. Finally, Algert Global LLC purchased a new stake in Astronics during the second quarter worth approximately $240,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their target price on shares of Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, October 18th.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $16.54 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. Astronics Co. has a 1-year low of $14.58 and a 1-year high of $23.74. The company has a market capitalization of $576.25 million, a price-to-earnings ratio of -87.05 and a beta of 1.83. The business has a 50-day moving average of $19.06 and a 200-day moving average of $19.74.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.