50,469 Shares in Astronics Co. (NASDAQ:ATRO) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in Astronics Co. (NASDAQ:ATRO) in the 4th quarter, Holdings Channel.com reports. The fund acquired 50,469 shares of the aerospace company’s stock, valued at approximately $805,000.

A number of other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Astronics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock valued at $1,581,000 after purchasing an additional 1,432 shares in the last quarter. FMR LLC raised its position in shares of Astronics by 22.9% in the 3rd quarter. FMR LLC now owns 46,597 shares of the aerospace company’s stock valued at $908,000 after buying an additional 8,670 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Astronics by 92.7% during the 3rd quarter. Verition Fund Management LLC now owns 20,700 shares of the aerospace company’s stock worth $403,000 after acquiring an additional 9,956 shares during the period. Centiva Capital LP acquired a new stake in shares of Astronics during the 3rd quarter worth approximately $218,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Astronics during the third quarter valued at approximately $214,000. 56.68% of the stock is currently owned by institutional investors.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $22.32 on Monday. Astronics Co. has a one year low of $14.13 and a one year high of $26.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The company has a market cap of $787.20 million, a price-to-earnings ratio of -117.47 and a beta of 1.26. The firm has a 50 day simple moving average of $21.56 and a 200 day simple moving average of $18.97.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. The company had revenue of $208.54 million during the quarter, compared to analysts’ expectations of $194.91 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. During the same period in the prior year, the company earned $0.35 EPS. Research analysts predict that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares in the company, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial raised their target price on Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, March 5th. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th.

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.