Reinhart Partners Inc. lifted its stake in shares of Astronics Co. (NASDAQ:ATRO) by 31.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,248 shares of the aerospace company’s stock after purchasing an additional 34,030 shares during the period. Reinhart Partners Inc. owned about 0.43% of Astronics worth $4,150,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new stake in Astronics during the 2nd quarter valued at about $14,758,000. UBS Group AG grew 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 acquiring an additional 311,136 shares in the last quarter. Morgan Stanley grew 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 acquiring an additional 256,953 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Astronics during the 2nd quarter valued at about $9,726,000. Finally, Vanguard Group Inc. grew 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 acquiring an additional 181,711 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.
Shares of Astronics stock traded up $0.16 during mid-day trading on Friday, hitting $31.07. The stock had a trading volume of 172,400 shares, compared to its average volume of 240,472. Astronics Co. has a 12-month low of $25.85 and a 12-month high of $44.34. The firm has a 50-day moving average of $29.81 and a two-hundred day moving average of $34.20. The firm has a market cap of $1.03 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The company has a quick ratio of 1.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.26.
Several analysts recently issued reports on the stock. ValuEngine cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday. Dougherty & Co dropped their price objective on shares of Astronics from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday. BidaskClub cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Finally, SunTrust Banks dropped their price objective on shares of Astronics to $26.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.75.
In other news, CFO David C. Burney sold 4,000 shares of the firm’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 sale, the chief financial officer now directly owns 33,434 shares in the company, valued at approximately $875,970.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.80% of the stock is currently owned by company insiders.
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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