Astronics Corporation $ATRO Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Astronics Corporation (NASDAQ:ATRO) by 47.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,650 shares of the aerospace company’s stock after purchasing an additional 8,250 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of Astronics worth $1,391,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ATRO. Vanguard Group Inc. increased its stake in shares of Astronics by 2.0% during the fourth 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 acquired a new position in shares of Astronics during the third quarter worth about $64,173,000. Luxor Capital Group LP acquired a new position in shares of Astronics during the third quarter worth about $52,698,000. Millennium Management LLC increased its stake in shares of Astronics by 80.1% during the first 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 increased its stake in shares of Astronics by 39.4% during the third 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. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.33.

Astronics Stock Down 5.0%

ATRO stock opened at $78.59 on Friday. The company has a market cap of $2.80 billion, a P/E ratio of 66.60 and a beta of 1.10. Astronics Corporation has a 52 week low of $27.27 and a 52 week high of $83.96. The company’s 50-day moving average price is $72.26 and its 200 day moving average price is $65.77. The company has a current ratio of 2.97, a quick ratio of 1.71 and a debt-to-equity ratio of 2.07.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $230.62 million for 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 was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, research analysts expect that Astronics Corporation will post 2.65 earnings per share for the current fiscal year.

About Astronics

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.