Principal Financial Group Inc. Buys Shares of 48,314 Astronics Corporation $ATRO

Principal Financial Group Inc. purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,314 shares of the aerospace company’s stock, valued at approximately $2,204,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the last quarter. Covestor Ltd grew its stake in shares of Astronics by 25.4% during the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 216 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Astronics by 250.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after acquiring an additional 875 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in shares of Astronics in the 3rd quarter valued at approximately $64,000. Finally, Penserra Capital Management LLC acquired a new stake in Astronics in the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 0.0%

Shares of NASDAQ:ATRO opened at $76.97 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. Astronics Corporation has a 12-month low of $18.54 and a 12-month high of $81.89. The business has a 50 day moving average of $66.33 and a two-hundred day moving average of $51.92. The company has a market capitalization of $2.74 billion, a PE ratio of -855.13 and a beta of 1.10.

Analyst Ratings Changes

A number of brokerages have issued reports on ATRO. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Craig Hallum reissued a “buy” rating on shares of Astronics in a report on Friday, January 9th. Wall Street Zen lowered Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Finally, TD Cowen started coverage on Astronics in a report on Wednesday, November 26th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.67.

Astronics 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.