Northern Trust Corp increased its stake in shares of Astronics Co. (NASDAQ:ATRO) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,284 shares of the aerospace company’s stock after purchasing an additional 9,068 shares during the quarter. Northern Trust Corp owned 1.14% of Astronics worth $11,484,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in shares of Astronics during the 2nd quarter worth about $105,000. DDD Partners LLC acquired a new position in shares of Astronics during the 2nd quarter worth about $324,000. Aperio Group LLC boosted its position in shares of Astronics by 33.4% during the 2nd quarter. Aperio Group LLC now owns 11,026 shares of the aerospace company’s stock worth $397,000 after acquiring an additional 2,763 shares in the last quarter. HGK Asset Management Inc. boosted its position in shares of Astronics by 17.2% during the 2nd quarter. HGK Asset Management Inc. now owns 15,678 shares of the aerospace company’s stock worth $564,000 after acquiring an additional 2,297 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Astronics by 67.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 16,520 shares of the aerospace company’s stock worth $594,000 after acquiring an additional 6,675 shares in the last quarter. 70.96% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. BidaskClub raised Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Zacks Investment Research raised Astronics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine raised Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. TheStreet raised Astronics from a “c+” rating to a “b-” rating in a research report on Tuesday, October 9th. Finally, Canaccord Genuity lowered their price objective on Astronics from $44.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.25.
Shares of NASDAQ ATRO opened at $29.73 on Friday. The stock has a market capitalization of $842.44 million, a P/E ratio of 23.78, a PEG ratio of 2.09 and a beta of 1.96. The company has a quick ratio of 1.68, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. Astronics Co. has a 52-week low of $27.56 and a 52-week high of $49.45.
Astronics (NASDAQ:ATRO) last announced its earnings results on Thursday, November 8th. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $212.67 million during the quarter, compared to analysts’ expectations of $208.59 million. Astronics had a return on equity of 13.48% and a net margin of 3.71%. The business’s revenue was up 42.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. As a group, research analysts forecast that Astronics Co. will post 1.44 earnings per share for the current fiscal year.
In related news, insider James S. Kramer sold 11,800 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $46.02, for a total value of $543,036.00. Following the completion of the sale, the insider now directly owns 42,003 shares of the company’s stock, valued at approximately $1,932,978.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.57% of the stock is owned by corporate insiders.
Astronics Company Profile
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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