Flputnam Investment Management Co. Takes $686,000 Position in Astronics Corporation $ATRO

Flputnam Investment Management Co. purchased a new stake in Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,451 shares of the aerospace company’s stock, valued at approximately $686,000.

Several other hedge funds have also recently bought and sold shares of ATRO. IFP Advisors Inc grew its holdings in Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the last quarter. Allworth Financial LP boosted its position in shares of Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Quarry LP raised its holdings in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Astronics during the 4th quarter worth $33,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Stock Performance

NASDAQ ATRO opened at $73.67 on Tuesday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 43.34 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 1.57. Astronics Corporation has a twelve month low of $29.65 and a twelve month high of $94.46. The stock has a fifty day simple moving average of $75.82 and a 200 day simple moving average of $68.54.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The firm had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. The business’s revenue for the quarter was up 46.9% compared to the same quarter last year. Sell-side analysts expect that Astronics Corporation will post 2.74 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ATRO. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Finally, TD Cowen boosted their price target on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Astronics has a consensus rating of “Buy” and a consensus target price 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.