Hennion & Walsh Asset Management Inc. increased its position in shares of Astronics Corporation (NASDAQ:ATRO – Free Report) by 20.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,689 shares of the aerospace company’s stock after buying an additional 13,613 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.19% of Astronics worth $6,476,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in ATRO. IFP Advisors Inc grew its holdings in Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares in the last quarter. Allworth Financial LP increased its position in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 533 shares in the last quarter. Quarry LP lifted its position in shares of Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Astronics in the 4th quarter worth approximately $33,000. 56.68% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. TD Cowen lifted their price objective on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Astronics has a consensus rating of “Buy” and a consensus target price of $74.17.
Astronics Price Performance
Shares of Astronics stock opened at $77.75 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The company has a market cap of $3.34 billion, a P/E ratio of 79.07 and a beta of 1.15. The firm’s 50 day moving average price is $73.91 and its 200-day moving average price is $66.61. Astronics Corporation has a 52-week low of $24.77 and a 52-week high of $88.72.
Astronics (NASDAQ:ATRO – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, sell-side analysts predict that Astronics Corporation will post 2.62 EPS for the current fiscal 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.
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