Ellsworth Advisors LLC Takes $918,000 Position in Astronics Corporation $ATRO

Ellsworth Advisors LLC bought a new position in Astronics Corporation (NASDAQ:ATRO) during the third quarter, HoldingsChannel reports. The fund bought 18,718 shares of the aerospace company’s stock, valued at approximately $918,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position 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 buying an additional 533 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Astronics during the 2nd quarter valued at approximately $66,000. Osaic Holdings Inc. increased its holdings in Astronics by 30.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 529 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Astronics by 13.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 369 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Astronics during the 3rd quarter worth approximately $139,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ATRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Cowen assumed coverage on Astronics in a research report on Wednesday, November 26th. They set a “buy” rating for the company. Finally, Truist Financial boosted their price target on Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $61.00.

Astronics Trading Up 0.3%

Shares of Astronics stock opened at $55.41 on Friday. Astronics Corporation has a twelve month low of $15.43 and a twelve month high of $56.72. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The business has a 50-day moving average price of $51.06 and a 200-day moving average price of $42.23. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -615.60 and a beta of 1.12.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The company had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%. Equities research analysts anticipate that Astronics Corporation will post 0.82 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.