Astronics Corporation $ATRO Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in Astronics Corporation (NASDAQ:ATRO) by 58.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 17,667 shares of the aerospace company’s stock after selling 24,356 shares during the quarter. SG Americas Securities LLC’s holdings in Astronics were worth $1,179,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Capital International Investors purchased a new position in Astronics during the third quarter valued at $64,173,000. Luxor Capital Group LP purchased a new stake in shares of Astronics during the third quarter worth about $52,698,000. State Street Corp raised its position in shares of Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after purchasing an additional 379,811 shares during the last quarter. Congruence Capital LLC acquired a new position in shares of Astronics during the 4th quarter worth about $19,658,000. Finally, Millennium Management LLC lifted 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 valued at $18,054,000 after buying an additional 332,133 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Stock Performance

NASDAQ:ATRO opened at $70.83 on Friday. The company’s 50-day moving average price is $71.11 and its 200-day moving average price is $62.78. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. The company has a market cap of $3.05 billion, a P/E ratio of 72.03 and a beta of 1.13. Astronics Corporation has a twelve month low of $22.73 and a twelve month high of $88.72.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. Astronics’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. On average, sell-side analysts forecast that Astronics Corporation will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ATRO. TD Cowen lifted their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Finally, Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate 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.