16,875 Shares in Astronics Co. (NASDAQ:ATRO) Purchased by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC purchased a new position in Astronics Co. (NASDAQ:ATRO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,875 shares of the aerospace company’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC boosted its holdings in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after buying an additional 2,791 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Astronics during the fourth quarter valued at about $73,000. Arcadia Investment Management Corp MI purchased a new stake in Astronics during the fourth quarter valued at about $135,000. Freestone Grove Partners LP purchased a new stake in Astronics during the fourth quarter valued at about $172,000. Finally, Victory Capital Management Inc. purchased a new stake in Astronics during the fourth quarter valued at about $178,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ATRO. StockNews.com raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 9th. Truist Financial dropped their price objective on shares of Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, April 17th.

Astronics Price Performance

NASDAQ ATRO opened at $30.04 on Tuesday. Astronics Co. has a 52 week low of $14.13 and a 52 week high of $30.37. The company has a market cap of $1.06 billion, a PE ratio of -158.10 and a beta of 1.44. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $24.33 and its two-hundred day simple moving average is $20.04.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. Research analysts predict that Astronics Co. will post 0.82 earnings per share for the current year.

Astronics Company Profile

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.