Engineers Gate Manager LP Buys 21,164 Shares of Astronics Corporation $ATRO

Engineers Gate Manager LP grew its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 551.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,005 shares of the aerospace company’s stock after acquiring an additional 21,164 shares during the period. Engineers Gate Manager LP’s holdings in Astronics were worth $2,032,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ATRO. BlackRock Inc. acquired a new position in shares of Astronics in the second quarter valued at approximately $248,395,000. Capital International Investors lifted its holdings in Astronics by 31.5% during the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after purchasing an additional 442,886 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Astronics by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company’s stock valued at $44,951,000 after purchasing an additional 34,018 shares during the period. Emerald Advisers LLC boosted its stake in Astronics by 85.0% in the 1st quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock valued at $29,970,000 after purchasing an additional 206,399 shares during the period. Finally, Congruence Capital LLC acquired a new position in Astronics in the 4th quarter valued at $19,658,000. Institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ATRO. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, TD Cowen raised their price target on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Two 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Astronics Trading Down 6.1%

ATRO opened at $66.64 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 39.20 and a beta of 1.20. The company has a 50-day simple moving average of $74.71 and a 200 day simple moving average of $69.25. Astronics Corporation has a twelve month low of $32.62 and a twelve month high of $94.46.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The business had revenue of $259.96 million during the quarter, compared to the consensus estimate of $245.30 million. Astronics’s quarterly revenue was up 46.9% on a year-over-year basis. Analysts predict that Astronics Corporation will post 2.74 EPS for the current fiscal year.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.