Renaissance Technologies LLC Grows Stock Holdings in Astronics Corporation $ATRO

Renaissance Technologies LLC grew its stake in Astronics Corporation (NASDAQ:ATROFree Report) by 320.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,920 shares of the aerospace company’s stock after acquiring an additional 169,900 shares during the period. Renaissance Technologies LLC owned 0.62% of Astronics worth $14,875,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 448 shares in the last quarter. Allworth Financial LP grew its stake in Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 533 shares in the last quarter. Quarry LP grew its stake in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Astronics during the 4th quarter worth $33,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Performance

ATRO stock opened at $69.49 on Friday. Astronics Corporation has a one year low of $22.73 and a one year high of $88.72. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 70.67 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The firm has a 50-day simple moving average of $73.45 and a two-hundred day simple moving average of $66.01.

Astronics (NASDAQ:ATROGet Free Report) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same period last year, the firm earned $0.37 earnings per share. Astronics’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Astronics Corporation will post 2.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen lifted their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $74.17.

Read Our Latest Stock Analysis on ATRO

About Astronics

(Free Report)

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.

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Institutional Ownership by Quarter for Astronics (NASDAQ:ATRO)

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