Mondrian Investment Partners LTD raised its position in shares of Astronics Co. (NASDAQ:ATRO) by 27.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,918 shares of the aerospace company’s stock after purchasing an additional 26,615 shares during the quarter. Mondrian Investment Partners LTD owned 0.38% of Astronics worth $3,641,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ATRO. Nuveen Asset Management LLC acquired a new stake in Astronics during the 2nd quarter valued at $14,758,000. UBS Group AG raised its stake in Astronics by 6,912.6% during the 2nd quarter. UBS Group AG now owns 315,637 shares of the aerospace company’s stock valued at $12,695,000 after purchasing an additional 311,136 shares during the period. Morgan Stanley raised its stake in Astronics by 2,382.3% during the 2nd quarter. Morgan Stanley now owns 267,739 shares of the aerospace company’s stock valued at $10,768,000 after purchasing an additional 256,953 shares during the period. Prudential Financial Inc. acquired a new stake in Astronics during the 2nd quarter valued at $9,726,000. Finally, Vanguard Group Inc. raised its stake in Astronics by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,764,627 shares of the aerospace company’s stock valued at $70,973,000 after purchasing an additional 181,711 shares during the period. 66.82% of the stock is currently owned by institutional investors.
In other news, CFO David C. Burney sold 4,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.20, for a total value of $104,800.00. Following the transaction, the chief financial officer now directly owns 33,434 shares of the company’s stock, valued at $875,970.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.80% of the company’s stock.
Shares of NASDAQ ATRO traded up $0.16 during mid-day trading on Friday, reaching $31.07. The company had a trading volume of 172,424 shares, compared to its average volume of 240,472. Astronics Co. has a twelve month low of $25.85 and a twelve month high of $44.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.77 and a current ratio of 2.97. The stock has a market capitalization of $1.03 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The stock’s 50 day moving average is $29.84 and its 200-day moving average is $34.21.
Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Monday, August 5th. The aerospace company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.16). Astronics had a return on equity of 7.90% and a net margin of 12.68%. The company had revenue of $189.10 million during the quarter, compared to analyst estimates of $188.80 million. During the same period last year, the company posted $0.49 earnings per share. The company’s revenue was down 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Astronics Co. will post 1.3 EPS for the current year.
Several analysts have issued reports on ATRO shares. SunTrust Banks cut their target price on shares of Astronics to $26.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. BidaskClub downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. ValuEngine downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Dougherty & Co cut their target price on shares of Astronics from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $37.75.
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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