Elyxium Wealth LLC Invests $209,000 in Astronics Corporation $ATRO

Elyxium Wealth LLC purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,250 shares of the aerospace company’s stock, valued at approximately $209,000.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock valued at $35,000 after buying an additional 679 shares during the last quarter. CWM LLC boosted its position in Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after buying an additional 1,705 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in Astronics in the second quarter valued at approximately $219,000. Longboard Asset Management LP purchased a new stake in Astronics in the second quarter valued at approximately $222,000. Finally, Corton Capital Inc. purchased a new stake in Astronics in the second quarter valued at approximately $227,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the transaction, the insider owned 1,066 shares in the company, valued at $40,678.56. This trade represents a 51.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ATRO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Wall Street Zen upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Truist Financial upped their price objective on Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Craig Hallum assumed coverage on Astronics in a research report on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Astronics presently has an average rating of “Hold” and an average price target of $59.00.

Astronics Trading Down 1.5%

Astronics stock opened at $47.99 on Wednesday. Astronics Corporation has a 12 month low of $14.13 and a 12 month high of $51.88. The firm has a market cap of $1.70 billion, a PE ratio of -399.88 and a beta of 1.68. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $44.27 and its two-hundred day simple moving average is $36.04.

Astronics (NASDAQ:ATRO) last announced its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Analysts anticipate that Astronics Corporation will post 0.82 earnings per share for the current year.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.