Astronics Corporation $ATRO Shares Sold by Next Century Growth Investors LLC

Next Century Growth Investors LLC reduced its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 12.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,067,612 shares of the aerospace company’s stock after selling 146,675 shares during the quarter. Astronics makes up 4.0% of Next Century Growth Investors LLC’s holdings, making the stock its largest holding. Next Century Growth Investors LLC’s holdings in Astronics were worth $57,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP raised its stake in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. IFP Advisors Inc raised its stake in Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares during the last quarter. Quarry LP raised its stake in Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 143 shares during the last quarter. Leonteq Securities AG acquired a new position in Astronics during the 4th quarter valued at $33,000. Finally, Jones Financial Companies Lllp raised its stake in Astronics by 166.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 470 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ATRO has been the subject of several research analyst reports. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. TD Cowen upped their target price on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Astronics presently has an average rating of “Moderate Buy” and an average price target of $89.00.

Astronics Trading Up 1.3%

Shares of Astronics stock opened at $96.00 on Friday. The stock has a market capitalization of $3.44 billion, a P/E ratio of 81.36 and a beta of 1.15. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The company has a 50-day simple moving average of $78.72 and a 200 day simple moving average of $70.82. Astronics Corporation has a 12-month low of $27.27 and a 12-month high of $99.89.

Shares of Astronics are set to split on the morning of Monday, June 15th. The 6-5 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last announced its 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. The business had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Research analysts expect that Astronics Corporation will post 2.68 earnings per share for the current fiscal year.

Astronics 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.