Minerva Advisors LLC Sells 92,797 Shares of Astronics Corporation $ATRO

Minerva Advisors LLC lowered its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 47.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,244 shares of the aerospace company’s stock after selling 92,797 shares during the period. Astronics accounts for approximately 3.7% of Minerva Advisors LLC’s portfolio, making the stock its 8th biggest holding. Minerva Advisors LLC owned 0.29% of Astronics worth $5,546,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ATRO. Capital International Investors acquired a new stake in shares of Astronics during the third quarter valued at $64,173,000. Luxor Capital Group LP acquired a new stake in shares of Astronics during the third quarter valued at $52,698,000. Millennium Management LLC boosted 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 valued at $18,054,000 after acquiring an additional 332,133 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Astronics during the third quarter valued at $11,617,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Astronics by 4,791.1% during the third quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock valued at $10,770,000 after acquiring an additional 231,312 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ATRO shares. Truist Financial raised Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Finally, Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Astronics has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $80.86 on Tuesday. The stock’s 50-day moving average price is $73.19 and its two-hundred day moving average price is $67.22. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 12-month low of $27.27 and a 12-month high of $86.27. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 68.53 and a beta of 1.10.

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