8,451 Shares in Astronics Corporation $ATRO Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. bought a new position in shares of Astronics Corporation (NASDAQ:ATRO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,451 shares of the aerospace company’s stock, valued at approximately $686,000.

Other hedge funds have also modified their holdings of the company. Capital International Investors boosted its position in shares of Astronics by 31.5% in the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after purchasing an additional 442,886 shares during the period. State Street Corp lifted its stake in Astronics by 26.2% during the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after buying an additional 379,811 shares in the last quarter. Congruence Capital LLC purchased a new stake in Astronics during the fourth quarter valued at about $19,658,000. Millennium Management LLC lifted its stake in 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 buying an additional 332,133 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Astronics by 4,791.1% in the third quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock worth $10,770,000 after buying an additional 231,312 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Trading Down 0.4%

Shares of NASDAQ ATRO opened at $93.05 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics Corporation has a one year low of $27.89 and a one year high of $94.46. The business has a 50-day moving average price of $75.75 and a two-hundred day moving average price of $67.56. The firm has a market capitalization of $4.00 billion, a PE ratio of 54.74 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The business’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, analysts predict that Astronics Corporation will post 2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ATRO. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. TD Cowen raised their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock 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 report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Finally, Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Astronics has an average rating of “Buy” and a consensus price target of $74.17.

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.