Tudor Investment Corp ET AL Sells 207,090 Shares of Astronics Corporation $ATRO

Tudor Investment Corp ET AL cut its holdings in Astronics Corporation (NASDAQ:ATRO) by 97.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,119 shares of the aerospace company’s stock after selling 207,090 shares during the period. Tudor Investment Corp ET AL’s holdings in Astronics were worth $279,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. IFP Advisors Inc lifted its stake in Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 448 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Astronics during the third quarter valued at about $230,000. Advisory Services Network LLC bought a new position in shares of Astronics during the third quarter valued at about $58,000. NewEdge Advisors LLC raised its stake in shares of Astronics by 94.6% during the third quarter. NewEdge Advisors LLC now owns 19,207 shares of the aerospace company’s stock valued at $876,000 after acquiring an additional 9,336 shares during the last quarter. Finally, Caxton Associates LLP raised its stake in shares of Astronics by 12.0% during the third quarter. Caxton Associates LLP now owns 53,247 shares of the aerospace company’s stock valued at $2,429,000 after acquiring an additional 5,716 shares during the last quarter. 56.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

ATRO has been the subject of several recent analyst reports. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Truist Financial upped their price objective on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Astronics presently has a consensus rating of “Buy” and a consensus target price of $77.33.

Astronics Price Performance

ATRO stock opened at $74.85 on Friday. Astronics Corporation has a 1 year low of $19.89 and a 1 year high of $83.96. The company has a market cap of $2.67 billion, a P/E ratio of 97.21 and a beta of 1.11. The firm has a 50-day moving average of $73.16 and a 200 day moving average of $61.94. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. During the same period in the prior year, the firm earned $0.46 earnings per share. Astronics’s revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

Astronics Company 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.