Integrated Quantitative Investments LLC Sells 4,077 Shares of Astronics Corporation $ATRO

Integrated Quantitative Investments LLC reduced its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 32.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,623 shares of the aerospace company’s stock after selling 4,077 shares during the period. Integrated Quantitative Investments LLC’s holdings in Astronics were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Earnest Partners LLC purchased a new position in shares of Astronics during the first quarter valued at approximately $12,774,000. Hennessy Advisors Inc. purchased a new position in shares of Astronics in the 2nd quarter worth about $15,046,000. Millennium Management LLC boosted its stake in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Astronics during the 1st quarter valued at about $5,521,000. Finally, Jane Street Group LLC raised its holdings in Astronics by 579.4% in the first quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company’s stock worth $5,571,000 after buying an additional 196,568 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATRO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Craig Hallum assumed coverage on shares of Astronics in a report on Friday, October 10th. They set a “buy” rating and a $60.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Astronics has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Astronics Stock Up 6.0%

ATRO opened at $52.15 on Monday. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $52.58. The company has a market capitalization of $1.85 billion, a PE ratio of -434.55 and a beta of 1.63. The firm’s 50 day simple moving average is $46.05 and its two-hundred day simple moving average is $37.56.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Astronics has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

Insider Buying and Selling at Astronics

In other news, insider James Mulato sold 1,129 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares of the company’s stock, valued at $40,678.56. This represents a 51.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.39% of the stock is currently owned by insiders.

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.