Hennion & Walsh Asset Management Inc. Buys 19,029 Shares of Astronics Corporation $ATRO

Hennion & Walsh Asset Management Inc. lifted its stake in Astronics Corporation (NASDAQ:ATRO) by 75.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,166 shares of the aerospace company’s stock after purchasing an additional 19,029 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Astronics were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ATRO. EverSource Wealth Advisors LLC raised its holdings in Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of Astronics during the third quarter valued at approximately $64,000. Penserra Capital Management LLC bought a new position in Astronics in the 2nd quarter valued at approximately $66,000. Osaic Holdings Inc. boosted its stake in Astronics by 30.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company’s stock valued at $77,000 after purchasing an additional 529 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Astronics by 13.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 369 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATRO. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday. Craig Hallum assumed coverage on Astronics in a research report on Friday, October 10th. They issued a “buy” rating and a $60.00 target price for the company. Cowen began coverage on shares of Astronics in a research note on Wednesday, November 26th. They set a “buy” rating on the stock. Truist Financial lifted their price target on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Astronics currently has an average rating of “Moderate Buy” and an average price target of $61.00.

Astronics Trading Up 11.3%

Shares of NASDAQ:ATRO opened at $64.81 on Friday. The stock’s 50-day simple moving average is $52.47 and its two-hundred day simple moving average is $43.68. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -720.03 and a beta of 1.10. Astronics Corporation has a 52-week low of $15.56 and a 52-week high of $65.47. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.07. The firm had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. Analysts expect that Astronics Corporation will post 0.82 EPS for the current 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.